NEW DELHI: India's GDP is expected to surpass the $ 5 trillion mark by the year 2020 although the economy is reeling under the pressure of slowdown, said Dun & Bradstreet, a business information and knowledge provider, in its second edition of its publication 'India 2020 - economy outlook'.
The study reviews the growth of the sagging economy in the present decade on the basis of its strengths and weaknesses.
The report said, “India is expected to be more than US$ 5 trillion (current market price) economy by FY20, and reach close to Japan (in terms of GDP in US$) as of 2010. We expect the current phase of subdued growth to continue till FY15 before the economy moves into a high growth phase.”
Moreover, the investment activity is likely to gain momentum, which will help the Indian economy grow faster. The share of GDP investment may rise to 40.7% of GDP by FY20 as compared to 36.6% in FY10.
Dr Arun Singh, senior economist at Dun & Bradstreet India, said, “Subdued growth in the domestic economy owing to the culmination of domestic and global factors is likely to continue till FY15, after which we expect the Indian economy to embark on a high growth phase.”