By the year 2025 India may become the world’s fifth largest economy. It would over that of the United Kingdom. In the Asia-Pacific region the country will stand tall at the second position, surpassing Japan too.
IHS Markit report reveals India’s economy under Prime Minister Narendra Modi and with Bharatiya Janata Party’s victory in the recent Lok Sabha elections looks positive.
The forecast of Indian GDP could be at an average of 7 per cent per year over 2019/2013 period.
The report added further, “India is forecast to become the world’s fifth largest economy in 2019, reaching a total GDP size exceeding USD 3 trillion, and overtaking its former colonial ruler, the United Kingdom. By 2025, Indian GDP is also forecast to surpass Japan, which will make India the second-largest economy in the Asia-Pacific region.”
It is learned India will also contribute to the global growth momentum and to play key role in the economic growth of the Asia-Pacific region.