New Delhi: With a USD 85.97 trillion economy, India will surpass China to become the world's largest economy by 2050, says a report.
"China will overtake the US to become the world's largest economy by 2020, which in turn will be overtaken by India in 2050," according to Wealth Report 2012 by Knight Frank & Citi Private Bank.
As per the report, Indian economy will reach USD 85.97 trillion size in terms of purchasing power parity by 2050, while the Chinese GDP would be USD 80.02 trillion during the
same period.
The US -- currently the world's largest economy – is expected to have a GDP of USD 39.07 trillion by 2050.
Other nations in the top ten list of world's largest economies would be Indonesia (4th), Brazil (5th), Nigeria (6th), Russia (7th), Mexico (8th), Japan (9th) and Egypt (10th).
In terms of growth from 2010-2050, India would be the second fastest with its economy growing at the rate of eight percent in the period.
With a pace of 8.5 percent, Nigeria would be the fastest growing economy during the same period, the report said.
In 2010, India was world's fourth largest economy with a value of USD 3.92 trillion compared to China's USD 9.98 trillion and America's USD 14.12 trillion.
The report named Surat and Nagpur among fast-growing cities to watch in 2050.
"We believe the cities to watch in 2050 are the 400 emerging market middleweights - fast growing cities with populations between 200,000 and 10 million.
"This dynamic group includes many cities that are not household names today: Linyi, Kelamayi and Guiyang in China; Surat and Nagpur in India; Concepcion and Belem in Latin America," it said.