India to become world's 3rd largest economy by 2028: BofA
India will overtake Japan in nominal GDP by 2028 to emerge as the world's third-largest economy, according to a report by Bank of America Merrill Lynch. The report said falling dependency ratios, financial maturity, and increasing incomes and affordability are the key drivers for the country. India has already overtaken Brazil and Russia to emerge as the second-largest BRICS economy.