India is set to become the fifth largest economy in the world in 2018

India is set to become the fifth largest economy in the world in 2018
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New Delhi: The world Economic League Tablet said in its report that, by 2018 India will be the fifth largest economy in the world leaving behind Britain and France. It also said that by 2032, India will be the third largest economy.

The 9th edition of the report was released by the London-based Centre for Economics and Business Research. According to the report, it will be the first time that Indian economy will overtake the UK and France in real money dollar terms.

The report also says that by 2030, three of the world’s top four economies will be Asian –China, India and Japan. By 2032, these countries will be joined by Korea and Indonesia in Top 10.
Further in Top 20, they will be joined by Taiwan and Thailand. In top 25, Philippines and Pakistan will secure their place.

Other South Asian countries like Pakistan will improve its position from 41st in 2017 to 25th in 2032. Bangladesh will improve its rank from 43rd to 31st in 2032.

China will surpass US economy in 2030, says the report. This is a remarkable achievement because China was only 12 percent the size of the US economy as recently as 2000.

The key projects which will drive the growth include Delhi-Mumbai Industrial Corridor, the Indian Smart Cities Project, and more than 80,000 km of new highways.

The report also anticipates that, till 2029, the US will retain the number one spot.