CEBR’s WELT 2023: India to rise to 3rd in WELT by 2037 from 5th in 2022
i.According to the World Economic League Table (WELT) 2023 released by the Centre for Economics and Business Research (CEBR), India is set to rise from 5th place on the WELT in 2022 to 3rd in the global rankings by 2037. WELT 2023 is the 14th edition.
ii.India is ranked 5th in WELT 2022 and it is projected to remain the 5th in WELT 2023.
iii.United States of America(USA) has topped the WELT in 2022 followed by China, Japan and Germany in 2nd, 3rd and 4th rank.
iv.India overtook the UK to become the world’s 5th largest economy in 2021. It has consolidated this position and is forecast to overtake Germany to become the world’s 4th largest economy in 2027 and to overtake Japan to become the world’s 3rd largest economy in 2032 and 2037.
About Centre for Economics and Business Research (CEBR):
Chairman– Martin Piers
Headquarters– London, United Kingdom (UK)