Business

India to overtake France, Britain to become sixth largest world economy: Report


Published : 26 Dec 2021 09:28 PM

"The Indian economy will exceed the British economy in 2023 and regain its place as the world's sixth biggest economy," Cybr report said.

The report made public last Sunday, also said that the Indian economy is set to overtake France next year.

With this Indian economy is all set to leave the French and the British economy behind, pointed out the report.

Nonetheless, the report is also suggestive of the fact that it will take time for China to become the world's top economy in dollar terms.

"The world's economic output will exceed $100 trillion for the first time in 2022. However, it will take China a little longer than previously thought to overtake the United States as the No.1 economy," the report added.

Cybr predicted that in 2030, China will become the world's top economy in dollar terms which is two years later than forecast in last year's World Economic League Table report.

"2020s will revolve how the world economies would cope with inflation which has now reached 6.8 per cent in the US," said Douglas McWilliams, Cybr Deputy Chairman.

"We hope that a relatively modest adjustment to the tiller will bring the non-transitory elements under control. If not, then the world will need to brace itself for a recession in 2023 or 2024," he said.

The report also showed Germany was set to overtake Japan in terms of economic output in 2033. Russia could become a top 10 economy by 2036 and Indonesia looks on track for ninth place in 2034.