1. Indian economy to better than UK and France in 2018, says CEBR report

Indian economy to better than UK and France in 2018, says CEBR report

India looks set to leapfrog Britain and France next year to become the world's fifth-largest economy in dollar terms, a report showed on Tuesday.

By: | New Delhi | Published: December 26, 2017 5:54 AM
india, indian economy, uk, france, asia, asian economy,Centre for Economics and Business Research India’s ascent is part of a trend that will see Asian economies increasingly dominate the top 10 largest economies over the next 15 years. (PTI)

India looks set to leapfrog Britain and France next year to become the world’s fifth-largest economy in dollar terms, a report showed on Tuesday. The Centre for Economics and Business Research (CEBR) consultancy’s 2018 World Economic League Table painted an upbeat view of the global economy, boosted by cheap energy and technology prices. India’s ascent is part of a trend that will see Asian economies increasingly dominate the top 10 largest economies over the next 15 years.

“Despite temporary setbacks … India’s economy has still caught up with that of France and the UK and in 2018 will have overtaken them both to become the world’s fifth largest economy in dollar terms,” said Douglas McWilliams, Cebr deputy chairman. McWilliams said India’s growth had been slowed by restrictions on high-value banknotes and a new sales tax, a view shared by economists polled by Reuters.

China is likely to overtake the United States as the world’s No.1 economy in 2032, Cebr said. “Because the impact of President Trump on trade has been less severe than expected, the USA will retain its global crown a year longer than we anticipated in the last report,” the report said. While Britain looks set to lag behind France over the next couple of years, Cebr predicted that Brexit’s effects on Britain’s economy will be less than feared, allowing it to overtake France again in 2020.

Russia was vulnerable to low oil prices and too reliant on the energy sector, and looked likely to fall to 17th place among the world’s largest economies by 2032, from 11th now. A Reuters poll of economists in late October suggested global economic growth in 2018 looks likely to quicken slightly to 3.6 percent from 3.5 percent this year – with risks to that forecast lying on the upside.

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  1. Vinod Sethi
    Dec 26, 2017 at 8:57 am
    It is meaning less whether India ranks 5th or 50th as long as there is hunger, starvation, poverty, illiteracy, lack of adequate healthcare and exploitation of the poor in the country. All the progress, development and achievements are of no use till a single human being goes to bed empty stomach. As on today, it appears as if the country has only 2 types of people who are enjoying all the resources of the state, 1. Politicians, and 2. Babus. Both are corrupt, both are criminal and people are paying taxes so that these blood suckers can enjoy. PM Modi is all set to enhance the pay and perks of the judges of the higher judiciary though the judges are equally corrupt and incompetent and inefficient and sermonize each and everyone without looking at their performance and not knowing what the public perception is about the judiciary and judicial officers and court staff.
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