India is expected to become the world's third largest economy by 2030

India is expected to become the world's third largest economy by 2030

Berlin/New Delhi: Germany, Europe's largest economy and the world’s third-largest economy, is expected to see a 0.5% decline in its GDP this year, according to the German Chamber of Commerce and Industry. This follows a 0.3% dip in 2023 and a 0.2% fall in 2024.

Meanwhile, according to a report from the International Monetary Fund (IMF), India is projected to become the world’s third-largest economy by 2029, with a GDP size of $6.44 trillion. In the same year, Germany is expected to fall to the fourth spot with a GDP of $5.36 trillion, while Japan will hold the fifth position with $4.94 trillion.

This shift underscores the growing influence of India in the global economy, as it continues to outperform other nations in economic growth.