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    Centre for Economics and Business Research (CEBR) Report 2021: India to become 5th largest economy in 2025 and 3rd largest by 2030

    By Arfa Javaid
    Dec 30, 2020, 18:52 IST

    Centre for Economics and Business Research (CEBR) has published a report on 'World Economic League Table 2021' and forecasted that India will overtake the UK in the year 2025, Germany in 2027 and Japan in 2030. 

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    India to become fifth-largest economy in 2025
    India to become fifth-largest economy in 2025

    Centre for Economics and Business Research (CEBR) has published its 12th edition on 'World Economic League Table 2021', forecasting 193 countries to the year 2035. 

    World Economic League Table 2021: Key Highlights

    1- The report mentions that the ongoing COVID-19 pandemic has had a $6 trillion GDP cost in 2020.

    2- Chinese economy may overtake the US economy in the year 2028 to be the world's biggest economy. 

    World Economic League Table 2021: India's Ranking

    1- As per the report, India will overtake the UK to become the fifth-largest economy in 2025 and the third-largest economy by 2030. 

    2- In 2019, India had overtaken the UK to become the fifth-largest economy in the world but has been relegated to the 6th position in 2020. 

    3- The report forecasts that the Indian economy will expand by 9% in the year 2021 and by 7% in 2022. 

    4- The report further states that with the expansion of the Indian economy, a slowdown in the economic growth will be witnessed. The annual GDP growth is expected to sink to 5.8% in the year 2035.

    5- India will overtake the UK in the year 2025, Germany in 2027 and Japan in 2030. 

    6- India's slow growth has been a consequence of a confluence of factors such as fragility in the banking system, adjustment to reforms and deceleration of global trade. 

    India 2020 2021 2025 2030 2035
    GDP, local currency bn (constant prices) 130,673 142,433 188,169 260,055 348,714

    GDP, USD bn (constant prices)

    		 2,453 2,628 3,366 4,909 6,954
    GDP, USD bn (current prices) 2,593 2,839 3,916 6,278 9,780
    Rank 6 6 5 3 3

    The report also stated that India's GDP in Q2 2020 was 23.9% below its 2019 level. This indicates that around a quarter of the country’s economic activity was wiped out by the drying up of global demand and the collapse of domestic demand that accompanied the series of strict national lockdowns.

    Countries/Territories 2020 2021 2025 2030 2035
    Afghanistan 111 113 117 122 129
    Albania 128 126 125 127 131
    Algeria 57 57 58 59 60
    Angola 74 74 75 68 64
    Antigua and Barbuda 177 177 175 175 176
    Argentina 31 29 36 47 45
    Armenia 132 132 132 130 127
    Aruba 166 165 166 170 171
    Australia 13 12 13 14 15
    Austria 28 28 33 35 41
    Azerbaijan 89 88 94 94 96
    The Bahamas 135 133 136 140 145
    Bahrain 95 95 98 97 101
    Bangladesh 41 41 34 28 25
    Barbados 155 155 155 157 159
    Belarus 80 81 83 84 85
    Belgium 26 26 27 32 38
    Belize 172 172 174 177 178
    Benin 120 118 114 112 112
    Bhutan 163 164 164 164 164
    Bolivia 92 91 92 90 89
    Bosnia and Herzegovina 113 111 111 113 117
    Botswana 119 120 118 120 123
    Brazil 12 13 11 8 9
    Brunei Darussalam 138 135 139 139 140
    Bulgaria 71 69 70 72 72
    Burkina Faso 118 117 113 114 114
    Burundi 161 161 161 162 163
    Cabo Verde 169 169 170 167 167
    Cambodia 101 102 101 96 94
    Cameroon 91 90 90 91 93
    Canada 9 9 8 9 12
    The central African Republic 165 166 165 163 162
    Chad 139 136 133 135 135
    Chile 47 45 44 44 47
    China 2 2 2 1 1
    Colombia 44 44 46 43 42
    Comoros 178 178 178 178 177
    The Democratic Republic of the Congo 87 87 88 89 91
    Republic of Congo 143 141 141 137 137
    Costa Rica 79 80 82 81 80
    Côte d'Ivoire 76 73 71 67 66
    Croatia 81 76 76 80 82
    Cyprus 106 106 107 116 125
    Czech Republic 48 46 47 45 46
    Denmark 38 37 40 41 43
    Djibouti 160 160 159 156 155
    Dominica 185 185 185 186 187
    Dominican Republic 67 67 66 66 68
    Ecuador 65 63 64 73 77
    Egypt 34 35 37 36 34
    El Salvador 102 105 106 110 116
    Equatorial Guinea 142 139 143 145 144
    Eritrea 167 167 169 168 168
    Estonia 99 101 102 103 106
    Eswatini 159 158 158 160 161
    Ethiopia 63 65 65 60 55
    Fiji 158 157 156 155 156
    Finland 43 47 48 50 54
    France 7 7 7 7 7
    Gabon  121 121 120 118 119
    The Gambia 170 170 168 166 166
    Georgia 117 119 116 111 110
    Germany 4 4 4 5 5
    Ghana 72 72 73 71 70
    Greece 51 52 54 56 59
    Grenada 180 180 180 179 179
    Guatemala 68 68 68 69 71
    Guinea 125 124 124 129 128
    Guinea-Bissau 176 175 173 171 170
    Guyana 150 149 140 143 148
    Haiti 144 147 150 152 153
    Honduras 104 104 105 105 109
    Hong Kong SAR 36 39 38 40 44
    Hungary 55 55 55 55 56
    Iceland 110 109 115 121 126
    India 6 6 5 3 3
    Indonesia 15 15 14 12 8
    The Islamic Republic of Iran 22 21 24 46 35
    Iraq 53 53 53 54 58
    Ireland 29 31 31 31 31
    Israel 30 32 32 30 29
    Italy 8 8 10 13 14
    Jamaica 126 123 129 134 138
    Japan 3 3 3 4 4
    Jordan 88 89 93 92 88
    Kazakhstan 54 54 50 48 48
    Kenya 62 62 61 58 53
    Kiribati 191 191 191 191 191
    Korea 10 10 9 11 11
    Kosovo 147 143 145 148 149
    Kuwait 60 60 60 62 61
    Kyrgyz Republic 148 145 144 141 139
    Lao P.D.R. 115 115 112 104 98
    Latvia 96 96 99 99 97
    Lebanon 114 110 103 102 103
    Lesotho 168 168 167 169 169
    Liberia 162 162 162 161 157
    Libya 108 100 89 100 104
    Lithuania 82 84 86 85 83
    Luxembourg 70 71 78 77 76
    Macao SAR 100 98 85 82 79
    North Macedonia 133 128 130 132 134
    Madagascar 127 122 123 126 130
    Malawi 145 144 147 147 143
    Malaysia 40 34 30 29 28
    Maldives 154 153 152 150 150
    Mali 116 112 109 109 108
    Malta 124 127 131 128 124
    Marshall Islands 190 190 190 190 190
    Mauritania 149 150 149 149 147
    Mauritius 136 134 134 136 136
    Mexico 16 16 16 16 16
    Micronesia 188 188 188 188 188
    Moldovo 137 138 138 131 118
    Mongalia 130 131 128 123 113
    Montenegro 152 152 153 153 152
    Morocco 59 59 59 61 63
    Mozambique 123 130 121 125 121
    Myanmar 69 70 67 64 62
    Namibia 141 140 135 138 141
    Nauru 192 192 192 192 192
    Nepal  98 97 96 95 95
    Netherlands 17 17 17 17 18
    New Zealand 52 50 52 51 51
    Nicaragua 134 137 142 144 146
    Niger 131 129 122 115 111
    Nigeria 27 27 23 27 27
    Norway  33 30 35 34 37
    Oman 75 77 77 75 74
    Pakistan 45 48 45 42 36
    Palau 189 189 189 189 189
    Panama 77 79 79 74 73
    Papua New Guinea 105 108 108 108 107
    Paraguay 94 94 95 93 90
    Peru 50 51 49 49 49
    Philippines 32 33 28 25 22
    Poland 23 23 21 21 24
    Portugal 49 49 51 52 52
    Puerto Rico 64 64 69 76 81
    Qatar 56 56 57 57 57
    Romania 46 43 43 38 33
    Russia 11 11 12 10 10
    Rwanda 140 142 137 133 132
    Samoa 183 183 184 183 183
    San Marino 175 176 179 180 182
    São Tomé and Príncipe 187 187 186 185 185
    Saudi Arabia 19 19 20 18 17
    Senegal 103 103 100 98 99
    Serbia 84 82 81 79 75
    Seychelles 179 179 177 176 175
    Sierra Leone 157 159 160 159 158
    Singapore 39 40 41 37 40
    Slovak Republic 61 61 62 63 65
    Slovenia 85 85 87 86 84
    Solomon Islands 173 173 172 173 173
    Somalia 153 154 154 154 154
    South Africa 42 42 42 39 39
    South Sudan 156 156 157 158 160
    Spain 14 14 15 15 13
    Sri Lanka 66 66 63 65 67
    St. Kitts and Nevis 181 181 181 181 181
    St. Lucia 171 171 171 172 174
    St. Vincet and the Grenadines  184 184 183 184 184
    Sudan  97 99 104 106 102
    Suriname 164 163 163 165 165
    Sweden 24 24 25 26 30
    Switzerland 18 18 19 19 23
    Taiwan Province of China 21 20 22 23 26
    Tajikistan 146 146 146 146 142
    Tanzania 73 75 72 70 69
    Thailand 25 25 26 22 21
    Timor-Leste 174 174 176 174 172
    Togo 151 151 151 151 151
    Tonga 186 186 187 186 186
    Trinidad and Tobago 107 107 110 117 122
    Tunisia 90 93 97 101 105
    Turkey 20 22 18 20 20
    Turkmenistan 86 86 80 83 86
    Tuvalu 193 193 193 193 193
    Uganda 93 92 91 88 87
    Ukraine 58 58 56 53 50
    United Arab Emirates 35 36 39 33 32
    United Kingdom 5 5 6 6 6
    United States 1 1 1 2 2
    Uruguay 83 83 84 87 92
    Uzbekistan 78 78 74 78 78
    Vanuatu 182 182 182 182 180
    Vietnam 37 38 29 24 19
    West Bank and Gaza 122 125 126 124 115
    Yemen 109 116 127 107 100
    Zambia 112 114 119 119 120
    Zimbabwe 129 148 148 142 133

    How COVID-19 has impacted the GDP of the economies around the world?

    1- It has created a government debt build-up. 

    2- The ongoing COVID-19 pandemic has affected demand. 

    3- It has also affected the supply side, hitting investment and reducing productivity as a result of measures to contain the deadly virus.

    4- Due to COVID-19 pandemic, huge trends have been fast-forwarded, especially in the areas of digitalisation and remote working.

    Source: CEBR

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    Arfa Javaid
    Arfa Javaid

    Content Writer

    Arfa Javaid is an academic content writer with 2+ years of experience in in the writing and editing industry. She is a Blogger, Youtuber and a published writer at YourQuote, Nojoto, UC News, NewsDog, and writers on competitive test preparation topics at jagranjosh.com

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    FAQs

    • What is India's position in the World Economic League Table 2021?
      +
      India is ranked at 6th spot in 2020 and as per the report, it will overtake the UK in the year 2025, Germany in 2027 and Japan in 2030.
    • Can China overtake the USA to be the world's biggest economy?
      +
      Yes, as predicted by the CEBR, China may overtake the US in 2028 to be the world's biggest economy.
    • Which country has the highest GDP in 2020?
      +
      United Stated has the highest GDP in 2020.

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