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Indian economy is all set to become sixth largest economy in the world leaving French and British economy behind, says British Consultancy Cybr report made public on last Sunday. The report says that in the year 2022, Indian economy will exceed French economy whereas it will trump British economy in 2023. However, the report had a bad news for China as it says that it will take time for the Mandarins to become world's top economy in dollar terms.
"India looks set to overtake France next year and then Britain in 2023 to regain its place as the world's sixth biggest economy," Cebr report said.
The report also said that world's economic output will exceed $100 trillion for the first time in 2022. However, it will take China a little longer than previously thought to overtake the United States as the No.1 economy, the report added. The British Consultancy Cebr predicted that China will become the world's top economy in dollar terms in 2030, two years later than forecast in last year's World Economic League Table report.
"The important issue for the 2020s is how the world economies cope with inflation, which has now reached 6.8 per cent in the US," said Cebr deputy chairman Douglas McWilliams.
"We hope that a relatively modest adjustment to the tiller will bring the non-transitory elements under control. If not, then the world will need to brace itself for a recession in 2023 or 2024."
The report showed Germany was on track to overtake Japan in terms of economic output in 2033. Russia could become a Top 10 economy by 2036 and Indonesia looks on track for ninth place in 2034.
(With inputs from Reuters)
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