India to become 3rd Largest Economy in 2025 to overtake Japan

Current context: London-based global information provider, IHS Markit Ltd estimated that India will become the 3rd biggest economy in 2025 by overtaking Japan

• IHS Markit Ltd in a report said that the transform from $3 trillion economies (2019) to $5 trillion economies (2025) is the key reason for the shift
• The information provider estimates that India will surpass the UK in 2019 to become the world’s 5th largest economy
• Indian consumer market size will also increase from $1.9 trillion (in 2019) to $3.6 trillion (in 2025)
• IHS said that the investment has a key role in accelerating the new economy startups and jobs
• An average GDP growth of 7% is forecasted by IHS Markit over the period of 2019-2023
• India is currently the 6th largest economy in the world and ranks 3rd in terms of purchasing power parity

Question: 

Q.1 What is India’s position in the world in terms of purchasing power Parity?
a. 6th
b. 2nd
c. 3rd
d. 5th