London: As Sensex spurred with a fresh record of 34,005.37, while the Nifty50 rose to a lifetime high of 10,515.10, the Centre for Economics and Business Research (Cebr) consultancy’s 2018 World Economic League said that India looks set to “leapfrog Britain and France next year to become the world’s fifth-largest economy in dollar terms.”
In a report issued on Tuesday, the Centre for Economics and Business Research (Cebr) consultancy’s 2018 World Economic League Table painted an upbeat view of the global economy, boosted by cheap energy and technology prices.
India’s ascent is part of a trend that will see Asian economies increasingly dominate the top 10 largest economies over the next 15 years.
“Despite temporary setbacks … India’s economy has still caught up with that of France and the UK and in 2018 will have overtaken them both to become the world’s fifth largest economy in dollar terms,” said CEBR’s deputy chairman Douglas McWilliam.
Whereas, the CEBR report also shows that China is likely to overtake the United States as the world’s no.1 economy in 2032.
“Because the impact of President (Donald) Trump on trade has been less severe than expected, the USA will retain its global crown a year longer than we anticipated in the last report,” the report said.(ANI)