India, fifth-largest economy in 2018 |
India looks set to leapfrog Britain and France next yeain 2018 to become the world`s fifth-largest economy in dollar terms, a report showed. 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, according to Douglas McWilliams, Cebr deputy chairman. cWilliams said India`s growth had been slowed by restrictions on demonetisation and GST, a view shared by economists polled by Reuters. China is likely to overtake the United States as the world`s No.1 economy in 2032, Cebr said. Because the impact of President 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. While Britain looks set to lag behind France over the next couple of years, Cebr predicted that Brexit`s effects on Britain`s economy will be less than feared, allowing it to overtake France again in 2020.
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