India to be world's largest economy by 2060, says UK MP Karan Bilimoria

British Parliamentarian Lord Karan Bilimoria has predicted that India will become the world's largest economy by 2060.

India has overtaken the United Kingdom and it's now the fifth largest economy in the world, he said on the sidelines of the Investiture Ceremony of his alma mater Hyderabad Public School (HPS), Begumpet, recently.

"The whole world is looking up to India. India is now, without doubt, going to be one of the three superpowers in the world very shortly. Within 25 years, my prediction is India will have a GDP of 32 trillion dollars and would be the second largest economy in the world. I go one step further, I believe by 2060 India would be the largest economy in the world," Bilimoria, Member of the Britain's House of Lords, told PTI.

He expressed hope that the India-UK free trade agreement being discussed is "imminent".

Trade between the two countries was increasing very rapidly and it is now over 30 billion pounds a year, the UK lawmaker noted.

"But, I still think that is scratching the surface. I think we could be doing multifold that."

Recalling the successful visit of the UK parliamentary delegation led by him in April this year to India, he said visits by big delegations, comprising business leaders, members of the press, cabinet ministers and university leaders, should be recommenced.

He further said UK Prime Minister Rishi Sunak should lead a big delegation on a visit to India.

The 1.7 million people of Indian origin like him who live in the UK are the "living bridge" with India and it is a most successful minority community in the UK, including the PM of Indian-origin as well as many successful leaders in business and other spheres of life, he said.

Lord Bilimoria, founder of Cobra Beer, also said he would love to re-start the product in India "at the earliest opportunity".