The Centre for Economics and Business Research (CEBR) envisions India as the foremost global economic powerhouse by the end of the century. The latest World Economic League Table report forecasts India’s Gross Domestic Product (GDP) surpassing China’s by 90% and the United States by 30%.
Highlighting India’s sustained robust growth, the report predicts an average of 6.5% from 2024 to 2028. This trajectory positions India to become the world’s third-largest economy by 2032, surpassing Japan and Germany. The projection of India surpassing China and the United States is expected post-2080, aligning with demographic estimates. Key drivers include a vast and youthful population, a growing middle class, a dynamic entrepreneurial sector, and increased global integration. However, the CEBR report emphasizes addressing challenges such as poverty reduction, inequality, human capital development, infrastructure enhancement, and environmental sustainability.
The report urges collaborative efforts from the government, private sector, civil society, and the international community to effectively address these challenges. Despite challenges, India exhibited significant economic resilience with a robust GDP growth of 7.2% in fiscal year 2022-23. CEBR anticipates a slight moderation to 6.4% for fiscal year 2023-24, resulting in output surpassing pre-pandemic levels by 17.2%.
