India likely to be world's largest economy by 2050

In view of its continuing robust growth, India is expected to be the world's largest economy by 2050, surpassing China and the US, a Citi report said.

"China should overtake the US to become the largest economy in the world by 2020, then be overtaken by India by 2050," financial services group Citi said the report. 

Going by the report, India would surpass the US -- currently the world's largest economy -- to become the second largest by 2040.

"We expect India to overtake Japan to become the third largest economy in the world by 2015," it noted.