Tuesday, 29 November 2022

India to become world 6th largest economy by 2023

India to become world 6th largest economy by 2023

Indian economy is all set to become the sixth-largest economy globally, leaving the French and British economy behind, says the British Consultancy Cyber report made public last Sunday. The report says that in 2022, the Indian economy will exceed the French economy, whereas it will trump the British economy in 2023. However, the information had bad news for China as it says that it will take time for the Mandarins to become the world's top economy in dollar terms.

The Cebr report said.

"India looks set to overtake France next year and then Britain in 20sixth-biggest its place as the world's sixth biggest economy,"

The world's economic output will surpass $100 trillion for the first time next year. China will take a little longer than previously thought to overtake the United States as the No.1 economy, and a report showed on Sunday.

The report also said that the world's economic output will exceed $100 trillion for the first time in 2022. However, the information added that it would take China a little longer than previously thought to pass the United States as the No.1 economy. The British Consultancy Cebr predicted that China will become the world's top economy in terms of a dollar in 2030, two years later than forecast in last year's World Economic League Table report.

India to become world 6th largest economy by 2023 1unsplash image

Read More: 3rd largest importer will be India by 2050

Cebr deputy chairman Douglas McWilliams said

"The main issue for the 2020s is how the world economies cope with inflation, which has now reached 6.8 per cent in the US,"

"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 its way to ninth place in 2034.

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