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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

Human Freedom Index 2020: India plummets 17 notches, ranked at 111th position

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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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