‘To occupy 3rd slot by 2030; China to outpace U.S. in 2028’India, which appears to have been pushed back to being the world’s sixth-biggest economy in 2020, will again overtake the U.K. to become the fifth-largest in 2025 and race to the third spot by 2030, a think tank said on Saturday. India had overtaken the U.K. in 2019 to become the fifth-largest economy. The U.K. appears to have overtaken India again during 2020 as a result of the weakness of the rupee, it said. CEBR forecast that the Indian economy would expand by 9% in 2021 and by 7% in 2022. The U.K.-based think tank forecast that China would overtake the U.S. to become the world’s biggest economy in 2028, five years earlier than estimated due to the contrasting recoveries of the two countries from the pandemic.

Source: The Hindu December 26, 2020 22:06 UTC