India to become world’s third-largest economy by 2028 – Qatar Day

India to become world’s third-largest economy by 2028

Bank of America Merrill Lynch says India is likely to achieve strong growth over the next decade and will overtake Japan in nominal GDP. It is well on track to become the world's fifth largest economy by 2019.

According to the report, the country has already overtaken Brazil and Russia becoming the second biggest BRICS economy after China. It is also projected to pass France and the UK as the world's fifth largest economy behind Germany by 2019.

“We see India crossing Germany and Japan in nominal GDP in dollar terms by 2028. This assumes the Indian economy grows at ten percent (in nominal US GDP) in the next decade, well ahead of Japan's 1.6 percent,” said the report.

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