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Currently, India is number 7 in terms of largeness of economy. Here’s a current ranking of the world’s largest economy:
#1 USA
#2 China
#3 Japan
#4 Germany
#5 United Kingdom
# 6 France
# 7 India
#8 Italy
#9 Brazil
However, in next 4 years, China is expected to take over USA. And India will be at the third spot, taking over France, UK, Germany and Japan.
As for when will India be the second biggest economic power in the world, it would take anywhere between 3-4 decades.
According to a report, in 2050, this is how the ranking of largest economy in the world will look:
#1 China
#2 India
#3 USA
#4 Indonesia
#5 Brazil
#6 Russia
#7 Mexico
#8 Japan
#9 Germany
So yes, there’s still very much time for India to get the second spot. And the journey could be further delayed if there’s any radical economic policy change. Demonetization has already overthrown India from the top spot of being the fastest growing economy in the world. So lets hope for the best.
What is the special economic zone (SEZ)?
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