India is set to surpass the French economy in 2022 and Britain by 2023, to become the sixth largest economy in the world in the next two years, British firm Cebr said in a report.
The report also noted that in 2022 the global economic output will exceed $100 trillion for the first time.
According to the consultancy Cebr China will become the world's top economy in dollar terms in 2030—this is two years later than predicted earlier.
"The important issue for the 2020s is how the world economies cope with inflation, which has now reached 6.8% in the U.S.,” a Reuters report quoted Cebr deputy chairman Douglas McWilliams as saying.
"We hope that a relatively modest adjustment to the tiller will bring the non-transitory elements under control. If not, then the world will need to brace itself for a recession in 2023 or 2024."
EY India, in its India report said that sustaining and strengthening the growth momentum in the third and fourth quarters of 2021-22 would be facilitated by robust growth and buoyancy in centre’s gross tax revenues with the thinning of the base effect.
“While there was a strong base effect in the first two quarters of 2021-22 due to a contraction in the corresponding quarters of 2020-21, such a base effect would not be present in the remaining two quarters of 2021-22,” it said, adding that economic recovery would more genuinely be reflected in the growth experience of these two quarters.
