By 2025, India will overtake Britain to become the fifth-largest economy in the world and will reach the third position by 2030. The Indian economy has slipped a notch to sixth place in 2020, affected by the Coronavirus epidemic. India moved up from Britain to fifth position in 2019.
The annual report of the UK's premier economic research institute, Sensor for Economic and Business Research (CEBR), said, "The impact of the Great Depression has been hampered on the way. As a result, India has lagged behind Britain this year after overtaking Britain in 2019. Britain will stay ahead till 2024 and after that India will overtake. '
It seems that due to the weakening of the rupee, Britain again rose above India in 2020. The report estimates that India's growth will be 9 percent in 2021 and 7 percent in 2022. The CEBR states that 'it is but natural that as India grows more economically, the country's growth rate will slow down and it will come down to 5.8 percent by 2035'.
According to this projected direction of economic growth, India will overtake Britain in 2025, Germany in 2027, and Japan in 2030 in terms of economy. The institute predicts that China will surpass the US in 2028 to become the world's largest economy. The institute has said that the pace of the Indian economy started slowing down before Covid 19. In 2019, the growth rate was 4.2 percent, a ten-year minimum growth.
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