State Bank of India’s Economic Research Department’s report, SBI Ecowrap, said that India is likely to get the tag of the world's third largest economy by FY28.

The path taken by India since 2014 reveals that India is likely to get the tag of the third largest economy in 2027 (or FY28) based on actual GDP data as on March 2023.

The report said

• India should surpass both Japan and Germany in 2027 at the current rate of growth.
• The ncremental increase by India between 2022-2027, is more than the current size of Australia’s economy at $1.8 trillion.
• At this rate, India is likely to add $0.75 trillion in every 2 years, implying that India is all set to touch $20 trillion by 2047, at least on current numbers.
• India’s global share in GDP will cross 4 per cent by 2027.