India to replace UK as fifth-biggest economy in 2025

A UK based think-tank, the Centre for Economics and Business Research has said that Indian economy will again overtake the UK to become the fifth largest economy in 2025 and race to the third spot by 2030. India had overtaken the UK in 2019 to become the fifth largest economy in the world but has been relegated to 6th spot this year. In an annual report, the Centre for Economics and Business Research said, the UK appears to have overtaken India again during 2020 as a result of the weakness of the rupee.

The Research organisation forecasts that the Indian economy will expand by 9 percent in 2021, and another 7 percent in 2022. The report says, Growth will naturally slow as India becomes more economically developed, with the annual GDP growth expected to sink to 5.8 percent in 2035. However it said, this growth trajectory will see India become the world's third largest economy by 2030, overtaking the UK in 2025, Germany in 2027 and Japan in 2030.

The Centre for Economics and Business Research (CEBR) in annual report forecasts that the Indian economy will expand by 9 percent in 2021 and by 7 percent in 2022. The CEBR said India's economy had been losing momentum even ahead of the shock delivered by the Covid  crisis. As restrictions were gradually lifted, many parts of the economy were able to spring back into action, although output remains well below pre-pandemic levels.An important driver of India's economic recovery thus far has been the agricultural sector, which has been buoyed by a bountiful harvest.