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

Published on July 13, 2019
Current context: London-based global information provider, IHS Markit Ltd estimated that India will become the 3rd biggest economy in 2025 by overtaking Japan
India to become 3rd Largest Economy in 2025 to overtake 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


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

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