The Indian Express reported that the India will beat Japan to grab the position of the world's third largest economy in 2028, according to an influential British think tank, that also forecast China to overtake the US for the top position.

London based economic consultancy Centre for Economics and Business Research in its annual 'World Economic League Table' released indicated that by 2028, the league table will be re ordered.

The CEBR said in reference to India's march up the economic ladder as a result of Japanese Prime Minister Mr Shinzo Abe's aggressive policies that "India overtakes Japan in 2028 to become the world's third largest economy. Abenomics means that Japan is likely to follow a weak currency policy for the foreseeable future which means that its GDP in dollar terms gets overtaken by India earlier than we had previously expected."

In 2013, Canada has overtaken India as a result of the collapse of the rupee to retake its position as the second largest economy in the Commonwealth and the 10th largest economy in the world.

However, India's fortunes will start reviving by 2018 when it will be at the ninth position, followed by fourth in 2023, before grabbing the third spot in 2028.

CEBR said in its report, which gives an end of year analysis on GDP in the 30 largest economies in the world that "By 2028, the league table is being reordered. China has moved to No. 1, India to No. 3, Mexico is in the top 10 at No. 9, Korea and Turkey are 11th and 12th and have overtaken France. As symbols of the new world order, Nigeria, Egypt, Iraq and the Philippines break into the top 30."

It also forecast the countries that will be in the 'Top Thirty' for the next 5, 10 and 15 years.