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India will be 5th largest economy: BCG

India will become the 5th-largest economy in the world by 2020 ahead of France, United Kingdom and Italy driven by high growth in consumption and investment, according to consulting major the Boston Consulting Group (BCG).

business Updated: Nov 03, 2011 21:55 IST
HT Correspondent

India will become the 5th-largest economy in the world by 2020 ahead of France, United Kingdom and Italy driven by high growth in consumption and investment, according to consulting major the Boston Consulting Group (BCG).

India’s consumption is set to explode relative to the rest of the world. Indian consumption basket which is a third of Japan currently will increase to almost twice the size of Japan by 2030, it said.

“The infrastructure sector is expected to see an investment of upto $1trillion over the next plan ( 2012-17),” it said.
During the last 10 years India has added 120 new billion dollar companies