India To Become Third Largest Economy In The World By 2050: Lancet

India could become the third-largest economy after China and the US by 2050, said a study published in Lancet.

The paper, which tool 2017 as the base (when India was the seventh-largest economy), said that India could move to the fourth position by 2030 and the third position by 2050.

Currently, India is the fifth-largest economy in the world, with the first four being the US, China, Japan and Germany.

The Lancet study's results were derived by translating the working-age population of countries into scenarios for GDP.

"By 2100, India was forecasted to still have the largest working-age population in the world, followed by Nigeria, China, and the USA. In our reference scenario, despite fertility rates lower than the replacement level, immigration sustained the US workforce," it said.

Countries like Australia and Israel would rise up in global rankings by GDP due to an increase in immigration. Japan that is also likely to see a sharp decline in working-age population, would remain the fourth-largest economy in the world in 2100, it said.