India could become the fourth-largest economy by 2026, overtaking Germany. According to the UK-based Center for Economics and Business Research (CEBR), India has become the fifth-largest economy in the world, surpassing France and the UK in this year. This report states that by 2034, India can overtake Japan to become the world's third-largest economy. The report, titled 'World Economic League Table, 2020', states that India, Germany, and Japan could be seen competing for third place in the next 15 years. Referring to the target set by the Indian government for an economy of 5 trillion dollars by 2024, the report said that it may take an additional 2 years to achieve this goal.
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The report also says that the crisis of the economy can distract it from the targets. Earlier, former Governor of Reserve Bank of India (RBI) C. Rangarajan said that according to the current growth rate, it is not possible to achieve the economy target of 5 trillion dollars by 2024. The report says that India has overtaken Britain and France this year, but the slowing GDP growth rate is worrisome. Major economic reforms may be needed to overcome this. CEBR Senior Economist Pablo Shah said that countries like India and Indonesia are developing fast. But it will be important to see how these countries affect the threat of countries like America and China on the global economy. During the last few years, India has topped the fast-growing countries of the world.
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Prime Minister Modi's economic reforms are incomplete: Guy Sorman
Famous French economist Guy Sorman said that India's PM Narendra Modi has taken many important steps while leading economic reforms. But economic reformist efforts are incomplete because of the attention being diverted. He said that it could have a negative impact on the economy. According to Sorman, due to adverse economic conditions, domestic and foreign investors are refraining from investing in India. He said that the economy is being affected wrongly due to the slowing down of reforms.
