NEW DELHI: India will regain its position as the fifth-largest economy by 2025 and emerge as the third-largest by 2030 in dollar terms and
remain in that position until 2035 while China is now forecast to overtake the US economy in2028,five years earlier than in 2033 as previously forecast, a top economic research firm has estimated.The latest World Economic League Table 2021 published by the Centre for Economics and Business Research (CEBR)which has forecasts for 193 countries up to 2035 said the working of the table has been done due to the impact of the Covid-19 pandemic on global economies.
While virtually all countries have been affected by the pandemic, one of its impacts has been to redistribute economic momentum between countries with Asia doing best and Europe worst,” CEBR said in its report, estimating that the pandemic has had a $6 trillion GDP cost in 2020.
“India has been knocked off course somewhat through the impact of the pandemic.As a result, after overtaking the UK in 2019, the UK overtakes India again in this year’s forecasts and stays ahead till 2024 before India takes over again,” the report said.