Tuesday, November 29, 2022
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Indian Economy: IMF said, Indian economy will be the third largest in 2027-28, leaving behind Japan

Indian 3rd Largest Economy: Economically, the economies of large countries of the developed world are clouded by crisis due to Russia-Ukraine war, increase in inflation. These countries are at risk of recession. But India is being described as the shining star of the world. When the IMF has reduced the growth rate projection of many countries of the world, but it believes that the Indian economy will grow at the rate of 6.8 percent in the current financial year despite all these challenges. America is more than China. Due to this pace of growth, the IMF believes that in 2027-28, India will overtake Japan to become the third largest economy in the world.

According to the IMF, in 2025-26, the Indian economy will be the fourth largest economy in the world at par with Germany. The size of the Indian economy will increase to $ 4.94 trillion in 2026-27. And after that in the year 2027-28, the Indian economy will grow to $5.36 trillion against Japan’s $5.17 trillion.

The size of the Indian economy was $3.18 trillion in 2021-22. Whereas in 2021 the size of the UK economy was $3.19 trillion. In India, the period from April to March is considered as the financial year. Whereas in the UK, the calendar year itself is considered a fiscal year. Recently, the Indian economy managed to become the fifth largest economy in the world, leaving behind the United Kingdom. However, these data were prepared on the basis of quarterly figures. The IMF estimates that at the end of the 2022-23 fiscal year, the size of the Indian economy will be $ 3.47 trillion, and that of the UK will be $ 3.2 trillion.

The size of the Indian economy will be $4.55 trillion in 2025-26. Which can remain equal to Germany. Germany’s economy was one trillion dollars bigger than India in 2021-22. But in 4 years, India will be able to become the fourth largest economy, leaving Germany behind.

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