India will become the third-largest economy in 2030

3

(Deepshikha Gautam, Intern Journalist) New Delhi: There is good news for the Indian economy. In the Corona era, the economy which slipped from the fifth position to the sixth position due to lockdown will become the world’s third-largest economy in the coming 10 years. India will lag behind Britain by 2024 and it will overtake it in 2025. By 2035, India’s growth rate will come down to 5.8 percent.

In 2027, India’s economy will overtake Germany and in 2030 it will overtake Japan to become the third-largest economy. CEBR believes that in 2021, India’s economy will see a huge growth of 9 percent and it will grow at 7 percent in the next financial year. The neighboring country China has got a boon due to Corona and this country can become the world’s largest economy. The American economy is still struggling. The country’s economic growth is expected to be 1.9 percent between 2022 and 2024. After that, it will grow at a rate of 1.6 percent. This is the reason that China will overtake the US 5 years before the estimate. An economic and soft power struggle has been going on between the US and China for some time. The covid-19 epidemic has turned it in China’s favor. China showed great skill in dealing with the epidemic by putting a lockdown in the beginning while the US still has to struggle.