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India To Be World's 3rd Largest Economy By 2028 After China, U.S. Email this page
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The 2013 league table shows only two changes in the list of top 20 economies. Firstly, Russia overtook recession-stricken Italy to gain 8th place and Canada overtook India as a result of the collapse of the rupee to retake its position as the second largest economy in the Commonwealth and the 10th largest economy in the world, the report said.
By the year 2018, the emerging economies will be "on the move". Russia would be at the 6th place; India 9th, Mexico 12th, Korea 13th and Turkey 17th, it said.

By 2023, India and Brazil would be "on the march" and are likely to claim the 4th and 5th place, respectively. By the year 2028, the league table will be reordered. China will move to the number one place, followed by the United States (2nd), India (3rd), Mexico (9th) and Canada (10th).

The report further said China's GDP in dollar terms is likely to overtake the U.S. in 2028 - much later than most previous predictions. Meanwhile, the United Kingdom would overtake Germany to become the largest Western European economy 'around 2030', it added.

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