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India to become fifth-largest economy in 2025: think tank
Why is it in news?
- According to think tank, India will overtake the U.K. to become the fifth-largest in 2025 and race to the third spot by 2030.
- The think tank Centre for Economics and Business Research (CEBR) published its annual report recently.
Key Arguments of the think tank:
- After overtaking the U.K. in 2019, the U.K. overtakes India again in this year’s forecasts and stays ahead till 2024 before India takes over again.
- The Indian economy would expand by 9% in 2021 and by 7% in 2022.
- Indian would overtake “Germany in 2027 and Japan in 2030.
- China would overtake the U.S. to become the world’s biggest economy in 2028.