India to replace UK as fifth-largest economy in 2025, to become third-largest by 2030, says UK think-tank

    28-Dec-2020   
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The Centre for Economics and Business Research, a UK based think-tank, has said that Indian economy will again overtake the UK to become the fifth-largest economy in 2025 and race to the third spot by 2030. 
 
“India has been knocked off course somewhat through the impact of the pandemic. As a result, after overtaking the UK in 2019, the UK overtakes India again in this year’s forecasts and stays ahead till 2024 before India takes over again,” the Centre for Economics and Business Research (CEBR) said in an annual report published on Saturday.
 
In an annual report, the Centre for Economics and Business Research said, the UK appears to have overtaken India again during 2020 as a result of the weakness of the rupee.
 
The Research organisation forecasts that the Indian economy will expand by 9 per cent in 2021, and another 7 per cent in 2022. The report says, Growth will naturally slow as India becomes more economically developed, with the annual GDP growth expected to sink to 5.8 per cent in 2035. However, it said, this growth trajectory will see India become the world's third-largest economy by 2030, overtaking the UK in 2025, Germany in 2027 and Japan in 2030.
 
“Growth will naturally slow as India becomes more economically developed, with the annual GDP growth expected to sink to 5.8 per cent in 2035.” “This growth trajectory will see India become the world’s third-largest economy by 2030, overtaking the UK in 2025, Germany in 2027 and Japan in 2030,” it said.