05/09/2022
SBI reports that India is likely to become the third largest economy by 2029 -- up seven places since 2014 when the country was ranked 10th. India is currently ranked fifth largest economy.
"The path taken by India since 2014 reveals the country is likely to get the tag of third largest economy by 2029," the report said.
According to a research paper from SBI's Economic Research Department, the Gross Domestic Product (GDP) growth rate for FY23 is predicted to be between 6.7 and 7.7%, although given the current state of the world economy, 6-6.5% growth is to be expected.