India to pip Japan and become world's third-largest economy by 2028: BofAML

The report assumes the Indian economy will grow at 10% (in nominal US GDP) in the next 10 years, well ahead of Japan's 1.6%

India is likely to become world’s third largest economy by 2028 and overtake Japan in nominal gross domestic product (GDP), projects a recent Bank of America Merrill Lynch report co-authored by Indranil Sen Gupta and Aastha Gudwani. The country, according to BofA-ML, is also well on track to cross France and the United Kingdom (UK) to emerge as the world's fifth largest economy after Germany by 2019.

The report assumes the Indian economy will grow at 10% (in nominal US GDP) in the next