<p>The Centre for Economics and Business Research (CEBR), which is a UK-based economics consultancy, predicted that India will become the third-largest economy by 2037.&nbsp;</p>

<p>The December 2022—14th edition of the&nbsp;report noted that over the next five years, the annual rate of GDP growth is expected to average 6.4%. After that, the growth is expected to average 6.5% in the subsequent nine years.&nbsp;</p>

<p>As per the report, India seems "unstoppable in its momentum" to become the third economic superpower. The report has predicted that in 2035, India will become the third $10 trillion economy.&nbsp;</p>

<p>While commenting on the Chinese economy, the report said that despite modest output performance in 2022, inflation was&nbsp;at an anticipated 11.6%. The Chinese economy, therefore, faces a potential stagflationary trade-off between growth and price rises.&nbsp;</p>

<p>In last year's report, it was mentioned that&nbsp;India will regain its position from France and&nbsp;the South Asian nation will witness an improvement in its World Economic League Table (WELT) ranking over the next 15 years.&nbsp;</p>

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<p dir="ltr" lang="en">🚨🚨WELT 2023 out now!🚨🚨<br />
For us at Cebr, the end of the year is a time to look ahead. To find out how the world's economies will develop over the next 15 years, download our 2023 World Economic League Table report here:<a href="https://t.co/rbM3h8GaP6">https://t.co/rbM3h8GaP6</a></p>
— Cebr (@Cebr_uk) <a href="https://twitter.com/Cebr_uk/status/1607165670898208769?ref_src=twsrc%5Etfw">December 26, 2022</a></blockquote>
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<p>Like the world, India also faced the wrath of the coronavirus (COVID-19) pandemic as the nation has the third-highest death toll globally. In the beginning, the pandemic caused a significant decline in economic activity, with output contracting by 6.6% in the fiscal year 2020/21.&nbsp;</p>

<p>But in the post-pandemic times, countries are now looking to revive their economy, and so is India. The report mentioned that a sharp rebound in economic activity in the post-pandemic era was led by a rise in domestic demand. It has resulted in GDP growing by 8.7% in the fiscal year 2021/22, making India the fastest-growing major economy in the world.&nbsp;</p>

<p><strong>WATCH |&nbsp;Will the latest COVID-19 outbreak in China lead to a potentially dangerous virus mutation?&nbsp;</strong></p>

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<p>Despite decelerating global demand and tightening monetary policy to curb inflationary pressures, the report states that India is expected to grow in the fiscal year 2022/23 at 6.8%. This would bring output 8.4% above 2019 levels.&nbsp;</p>

<p>Over the next five years, the annual rate of GDP growth is expected to average 6.4%, after which growth is expected to average 6.5% in the subsequent nine years.&nbsp;</p>

<p>The reported growth trajectory will see India rise from fifth place on the WELT in 2022 to third in the global rankings by 2037.&nbsp;</p>

<p><strong>WATCH WION LIVE HERE</strong></p>

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The Centre for Economics and Business Research (CEBR), which is a UK-based economics consultancy, predicted that India will become the third-largest economy by 2037.

The Centre for Economics and Business Research (CEBR), which is a UK-based economics consultancy, predicted that India will become the third-largest economy by 2037. The December 2022—14th edition of the report noted that over the next five years, the annual rate of GDP growth is expected to average 6.4%. After that, the growth is expected to average 6.5% in the subsequent nine years. As per the report, India seems "unstoppable in its momentum" to become the third economic superpower. The report has predicted that in 2035, India will become the third $10 trillion economy. While commenting on the Chinese economy, the report said that despite modest output performance in 2022, inflation was at an anticipated 11.6%. The Chinese economy, therefore, faces a potential stagflationary trade-off between growth and price rises. In last year's report, it was mentioned that India will regain its position from France and the South Asian nation will witness an improvement in its World Economic League Table (WELT) ranking over the next 15 years. 🚨🚨WELT 2023 out now!🚨🚨 For us at Cebr, the end of the year is a time to look ahead. To find out how the world's economies will develop over the next 15 years, download our 2023 World Economic League Table report here:https://t.co/rbM3h8GaP6 — Cebr (@Cebr_uk) December 26, 2022 × Like the world, India also faced the wrath of the coronavirus (COVID-19) pandemic as the nation has the third-highest death toll globally. In the beginning, the pandemic caused a significant decline in economic activity, with output contracting by 6.6% in the fiscal year 2020/21. But in the post-pandemic times, countries are now looking to revive their economy, and so is India. The report mentioned that a sharp rebound in economic activity in the post-pandemic era was led by a rise in domestic demand. It has resulted in GDP growing by 8.7% in the fiscal year 2021/22, making India the fastest-growing major economy in the world. WATCH | Will the latest COVID-19 outbreak in China lead to a potentially dangerous virus mutation? × Despite decelerating global demand and tightening monetary policy to curb inflationary pressures, the report states that India is expected to grow in the fiscal year 2022/23 at 6.8%. This would bring output 8.4% above 2019 levels. Over the next five years, the annual rate of GDP growth is expected to average 6.4%, after which growth is expected to average 6.5% in the subsequent nine years. The reported growth trajectory will see India rise from fifth place on the WELT in 2022 to third in the global rankings by 2037. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

India 'unstoppable in its momentum' to become third economic superpower; will be $10 trillion economy by 2035

<p>Indian&nbsp;stocks&nbsp;slipped on Tuesday but hovered around their all-time highs as investors booked&nbsp;year-end&nbsp;profits, while the benchmark&nbsp;<a href="https://www.wionews.com/business-economy/sensex-nifty-edge-higher-in-rangebound-trade-gail-power-grid-rise-270934">Nifty&nbsp;index</a> was poised for a nearly&nbsp;13 per cent&nbsp;gain in&nbsp;2019.</p>

<p>On the last trading day of the&nbsp;year, the NSE&nbsp;Nifty&nbsp;50 index was down 0.36 per cent&nbsp;at 12,211.60 by 0445 GMT, while the S&amp;P BSE Sensex was trading 0.38 per cent lower at 41,401.35.</p>

<p>The&nbsp;Nifty&nbsp;has risen 12.5 per cent&nbsp;so far this&nbsp;year, while the Sensex has climbed 14.8 per cent. Both blue-chip indexes hit fresh record highs this&nbsp;year&nbsp;and have gained sharply more than in 2018, even as economic growth&nbsp;slipped to a five-year&nbsp;low this&nbsp;year&nbsp;amid a slowdown in demand for everything from cars to cookies.</p>

<p>Still, the gap between large-cap&nbsp;shares&nbsp;and their smaller peers was stark. The <a href="https://www.wionews.com/business-%26-economy/bse-to-launch-commodity-derivatives-trading-from-1-october-135458?amp">BSE</a> MidCap index has shed 3 per cent&nbsp;this&nbsp;year, while the BSE SmallCap index is down 7 per cent.</p>

<p>Asian equities also&nbsp;slipped on Tuesday, mirroring declines on Wall Street, as investors locked in gains made since the <a href="https://www.wionews.com/world/phase-one-trade-deal-with-china-would-be-signed-very-shortly-donald-trump-269576">United States and China deal</a> this month.</p>

<p>The&nbsp;Nifty&nbsp;Bank index and the&nbsp;Nifty&nbsp;PSU Bank index, which have each rallied roughly 17 per cent&nbsp;since early October, were down 0.40 per cent and 0.33 per cent, respectively.</p>

<p>Twelve of the 13 stocks on the&nbsp;Nifty&nbsp;PSU Bank index, which tracks state-run lenders, were in the red.&nbsp;Indian&nbsp;Overseas Bank fell 2.1 per cent.</p>

<p>The&nbsp;Nifty&nbsp;Auto index, which has climbed 23 per cent from a record low in July, was down 0.40 per cent. The index still lost 10 per cent this&nbsp;year&nbsp;as automakers battled a crippling slowdown that forced them to cut production and jobs.</p>

<p>"When the market is near an all-time high, there's a probability of a correction ... we are seeing that today," said Siddharth Sedani, head of equity advisory at Anand Rathi Financial Services Ltd in Mumbai.</p>

<p>The&nbsp;Nifty&nbsp;50 last hit an intraday record high of 12,293.90 on December&nbsp;20.</p>


Indian stocks slipped on Tuesday but hovered around their all-time highs as investors booked year-end profits, while the benchmark Nifty index was poised for a nearly 13 per cent gain in 2019.

Indian stocks slipped on Tuesday but hovered around their all-time highs as investors booked year-end profits, while the benchmark Nifty index was poised for a nearly 13 per cent gain in 2019. On the last trading day of the year, the NSE Nifty 50 index was down 0.36 per cent at 12,211.60 by 0445 GMT, while the S&P BSE Sensex was trading 0.38 per cent lower at 41,401.35. The Nifty has risen 12.5 per cent so far this year, while the Sensex has climbed 14.8 per cent. Both blue-chip indexes hit fresh record highs this year and have gained sharply more than in 2018, even as economic growth slipped to a five-year low this year amid a slowdown in demand for everything from cars to cookies. Still, the gap between large-cap shares and their smaller peers was stark. The BSE MidCap index has shed 3 per cent this year, while the BSE SmallCap index is down 7 per cent. Asian equities also slipped on Tuesday, mirroring declines on Wall Street, as investors locked in gains made since the United States and China deal this month. The Nifty Bank index and the Nifty PSU Bank index, which have each rallied roughly 17 per cent since early October, were down 0.40 per cent and 0.33 per cent, respectively. Twelve of the 13 stocks on the Nifty PSU Bank index, which tracks state-run lenders, were in the red. Indian Overseas Bank fell 2.1 per cent. The Nifty Auto index, which has climbed 23 per cent from a record low in July, was down 0.40 per cent. The index still lost 10 per cent this year as automakers battled a crippling slowdown that forced them to cut production and jobs. "When the market is near an all-time high, there's a probability of a correction ... we are seeing that today," said Siddharth Sedani, head of equity advisory at Anand Rathi Financial Services Ltd in Mumbai. The Nifty 50 last hit an intraday record high of 12,293.90 on December 20.

Indian shares slip on year-end profit booking; Nifty set for 13% jump in 2019

<p>UK based the Centre for Economics and Business Research (Cebr) consultancy's 2020 World Economic League report on Monday said that <a href="https://www.wionews.com/opinions/indian-economy-not-immune-to-blemishes-of-politicisation-257491">India</a> looks set to surpass Germany to become the fourth-largest economy in 2026 and Japan to become third-largest in 2034.</p>

<p>According to the report India has decisively overtaken both France and the UK to become the world’s fifth-largest economy in 2019. It is expected to overtake Germany to become fourth-largest in 2026 and Japan to become the third-largest in 2034. India is also set to reach a GDP of $5 trillion by 2026 – 2 years later than the current government target.</p>

<p><strong>Watch: India's Real Estate Outlook- growth, Sustainability &amp; Economy</strong></p>

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<p>In a report issued on December 26, 2019, the CEBR consultancy's 2020 World Economic League Table painted an upbeat view of the global economy, boosted by energy and technology prices.</p>

<p>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.</p>

<p>“Despite the rapid ascent of countries such as India and Indonesia, it is striking how little an impact this will have on the US and China’s dominant roles in the global economy, " the report said.</p>

<p>In its previous years' reports the CEBR has also stated that that China is likely to overtake the United States as the world's no.1 economy in 2032.</p>

<p><em>(With inputs from agencies)</em></p>


UK based the Centre for Economics and Business Research (Cebr) consultancy's 2020 World Economic League report on Monday said that India looks set to surpass Germany to become the fourth-largest economy in 2026 and Japan to become third-largest in 2034.

UK based the Centre for Economics and Business Research (Cebr) consultancy's 2020 World Economic League report on Monday said that India looks set to surpass Germany to become the fourth-largest economy in 2026 and Japan to become third-largest in 2034. According to the report India has decisively overtaken both France and the UK to become the world’s fifth-largest economy in 2019. It is expected to overtake Germany to become fourth-largest in 2026 and Japan to become the third-largest in 2034. India is also set to reach a GDP of $5 trillion by 2026 – 2 years later than the current government target. Watch: India's Real Estate Outlook- growth, Sustainability & Economy × In a report issued on December 26, 2019, the CEBR consultancy's 2020 World Economic League Table painted an upbeat view of the global economy, boosted by 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 the rapid ascent of countries such as India and Indonesia, it is striking how little an impact this will have on the US and China’s dominant roles in the global economy, " the report said. In its previous years' reports the CEBR has also stated that that China is likely to overtake the United States as the world's no.1 economy in 2032. (With inputs from agencies)

India to surpass Germany and Japan to become world's third largest economy by 2034

<p>India will unveil a series of infrastructure projects this month as part of a plan to invest 100 trillion rupees ($1.39 trillion) in the sector over the next five years, the finance minister said on Saturday, in a push to improve the country's economy.</p>

<p><a href="https://www.wionews.com/india-news/growth-may-have-come-down-but-not-a-recession-yet-sitharaman-264953">Nirmala Sitharaman's </a>comments, as cited in local newspapers, followed data released on Friday that showed <a href="https://www.wionews.com/business-economy/indias-economy-seen-growing-at-47-per-cent-in-september-quarter-265058">India's economic growth </a>slowed to 4.5% in the July-September quarter - its weakest pace since 2013 - upping the pressure on Prime Minister Narendra Modi's government to speed reforms.</p>

<p>"A set of officers are looking into the pipeline of projects that can be readied so that once the fund is ready, it could be front-loaded on these projects," Sitharaman said at a business summit in Mumbai, the newspapers reported.</p>

<p>"That task is nearly completed. Before December 15, we will be able to announce frontloading of at least ten projects," she said.</p>

<p>Modi came to power in 2014 on the promise to improve India's economy and boost foreign investments, but he has struggled to meet those aims due to a lack of structural reforms. Modi won a second term in May and has taken various measures since 2014 to spur growth, including cutting the corporate tax and speeding up privatisation of state-run firms.</p>

<p>But several economic indicators show domestic consumption is weak, and many economists expect the current slowdown could persist for another two years.</p>


India will unveil a series of infrastructure projects this month as part of a plan to invest 100 trillion rupees ($1.39 trillion) in the sector over the next five years, the finance minister said on Saturday, in a push to improve the country's economy.

India will unveil a series of infrastructure projects this month as part of a plan to invest 100 trillion rupees ($1.39 trillion) in the sector over the next five years, the finance minister said on Saturday, in a push to improve the country's economy. Nirmala Sitharaman's comments, as cited in local newspapers, followed data released on Friday that showed India's economic growth slowed to 4.5% in the July-September quarter - its weakest pace since 2013 - upping the pressure on Prime Minister Narendra Modi's government to speed reforms. "A set of officers are looking into the pipeline of projects that can be readied so that once the fund is ready, it could be front-loaded on these projects," Sitharaman said at a business summit in Mumbai, the newspapers reported. "That task is nearly completed. Before December 15, we will be able to announce frontloading of at least ten projects," she said. Modi came to power in 2014 on the promise to improve India's economy and boost foreign investments, but he has struggled to meet those aims due to a lack of structural reforms. Modi won a second term in May and has taken various measures since 2014 to spur growth, including cutting the corporate tax and speeding up privatisation of state-run firms. But several economic indicators show domestic consumption is weak, and many economists expect the current slowdown could persist for another two years.

India plans to invest $1.39 trillion in infrastructure to spur economy

<p>Union Home Minister <a href="https://www.wionews.com/india-news/bjp-will-completely-uproot-naxalism-in-jharkhand-amit-shah-265107">Amit Shah </a>on Saturday said that the Indian economy has moved from the era of policy paralysis, scams and corruption pre-2014 to an era of bold, transparent and decisive decision-making under the Narendra Modi government since 2014.</p>

<p>"Indian Economy has moved from the era of policy paralysis, scams and corruption pre-2014 to one of the era of bold, transparent and decisive decision-making under Narendra Modi Government since 2014," Shah said in an address at the reputed English Daily Awards for Corporate Excellence in Mumbai.</p>

<p>Shah asserted that the current slowdown in economy is a "temporary phase" and the Indian industry which contributes 60 per cent of gross domestic product (GDP) to the economy will join with the vision of Modi government to make India a 5 trillion-dollar economy by 2024.</p>

<p>Expressing hope that the Indian industry and market will tide over this temporary crisis despite a slowdown, the home minister assured the industry that the "government is standing solidly behind them and is tackling all the challenges in a proactive fashion".</p>

<p>He said that the last 5 years were of the "detoxification of the economy" and in the next five years a "series of reforms" will be taken to make it one of the most powerful economies of the world.</p>

<p>"India is already a destination of global companies due to its huge market and FDI is at record level today. Even Sensex and nifty have breached all records," Shah added.</p>

<p>The home minister said that the government is committed to strengthening the industry and the trade and said: "By lowering the corporate tax ranging between 17 to 25 per cent, India has got the distinction of one of the lowest corporate tax levying country. Even fiscal deficit which was 4.5 per cent in 2013-14 has come down to 3.3 per cent and inflation has been checked at 3.3 per cent from 5.9 per cent earlier."</p>

<p>Emphasising on the goods and services tax (GST) and ease of doing business, he said: "The vision of one nation one tax has been realised and a series of labour reforms are in the offing."</p>

<p>"On the front of ease of doing business, India was at the rank of 142 in 2014 but in the last 5 years we jumped to 77 and expressed hope that by 2024, India will be somewhere at the rank of 30," the union minister said.</p>

<p>Shah said that the decision to not join the Regional Comprehensive Economic Partnership (RCEP) was taken in the interest of the industry as India has already free trade agreement (FTA) with China, Australia and New Zealand. "The Modi government has taken the hard decision in the interest of Indian industry," he said.</p>

<p>Referring to a series of measures taken in the field of infrastructure both in the rural and urban areas, he said that the Make in India and Start-up India projects are going to scale new heights in years to come. Stating that India voted to power Narendra Modi in 2014, he said:</p>

<p>"Not a single corruption charge was leveled against the Modi government. The governance has moved from policy paralysis of pre-2014 to one of bold and decisive government."&nbsp;</p>


Union Home Minister Amit Shah on Saturday said that the Indian economy has moved from the era of policy paralysis, scams and corruption pre-2014 to an era of bold, transparent and decisive decision-making under the Narendra Modi government since 2014.

Union Home Minister Amit Shah on Saturday said that the Indian economy has moved from the era of policy paralysis, scams and corruption pre-2014 to an era of bold, transparent and decisive decision-making under the Narendra Modi government since 2014. "Indian Economy has moved from the era of policy paralysis, scams and corruption pre-2014 to one of the era of bold, transparent and decisive decision-making under Narendra Modi Government since 2014," Shah said in an address at the reputed English Daily Awards for Corporate Excellence in Mumbai. Shah asserted that the current slowdown in economy is a "temporary phase" and the Indian industry which contributes 60 per cent of gross domestic product (GDP) to the economy will join with the vision of Modi government to make India a 5 trillion-dollar economy by 2024. Expressing hope that the Indian industry and market will tide over this temporary crisis despite a slowdown, the home minister assured the industry that the "government is standing solidly behind them and is tackling all the challenges in a proactive fashion". He said that the last 5 years were of the "detoxification of the economy" and in the next five years a "series of reforms" will be taken to make it one of the most powerful economies of the world. "India is already a destination of global companies due to its huge market and FDI is at record level today. Even Sensex and nifty have breached all records," Shah added. The home minister said that the government is committed to strengthening the industry and the trade and said: "By lowering the corporate tax ranging between 17 to 25 per cent, India has got the distinction of one of the lowest corporate tax levying country. Even fiscal deficit which was 4.5 per cent in 2013-14 has come down to 3.3 per cent and inflation has been checked at 3.3 per cent from 5.9 per cent earlier." Emphasising on the goods and services tax (GST) and ease of doing business, he said: "The vision of one nation one tax has been realised and a series of labour reforms are in the offing." "On the front of ease of doing business, India was at the rank of 142 in 2014 but in the last 5 years we jumped to 77 and expressed hope that by 2024, India will be somewhere at the rank of 30," the union minister said. Shah said that the decision to not join the Regional Comprehensive Economic Partnership (RCEP) was taken in the interest of the industry as India has already free trade agreement (FTA) with China, Australia and New Zealand. "The Modi government has taken the hard decision in the interest of Indian industry," he said. Referring to a series of measures taken in the field of infrastructure both in the rural and urban areas, he said that the Make in India and Start-up India projects are going to scale new heights in years to come. Stating that India voted to power Narendra Modi in 2014, he said: "Not a single corruption charge was leveled against the Modi government. The governance has moved from policy paralysis of pre-2014 to one of bold and decisive government."

Amit Shah says Indian economy moved to 'bold, decisive decision-making', calls current slowdown 'temporary'