India’s GDP is likely to overtake China as the third-largest economy: SBI reports
SBI reports that India is likely to become the third largest economy by 2029 — up seven places since 2014 when the country was ranked 10th. India is currently ranked fifth largest economy.
“The path taken by India since 2014 reveals the country is likely to get the tag of third largest economy by 2029,” the report said.
According to a research paper from SBI’s Economic Research Department, the Gross Domestic Product (GDP) growth rate for FY23 is predicted to be between 6.7 and 7.7%, although given the current state of the world economy, 6-6.5% growth is to be expected.
Friday’s Bloomberg report stated that India had surpassed Britain to take over as the fifth-largest economy in the world. The IMF’s GDP statistics showed that India increased its lead during the first quarter. However, the SBI analysis states that as of December 2021,…
