New Delhi: According to a US based internationally recognized foreign policy think tank, India will be the third largest economy after China and USA by 2050. An article titled, “The G-20 in 2050″ by Uri Dadush and Bannett Stancil said that China, USA and India will emerge as the world’s three largest economies by 2050.
The experts claim that out of G-20 countries, India is predicted to grow more rapidly. But its current modest size would be an obstacle to be the world’s largest economy. The G-20’s GDP is expected to grow at an average annual rate of 3.6 percent.
India’s average annual GDP growth rate is predicted to be 6.19 % during the period of 2009-2050. Germany, The UK, France and Italy will be in fourth to seventh spots respectively in the world economy, the report said.
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