New Delhi, March 13 -- India will be the world's third-largest economy by 2028 as it becomes the world's most sought-after consumer market and gains share in global output, driven by macro stability influenced policy and better infrastructure, Morgan Stanley said.

From a USD 3.5 trillion economy in 2023, the Indian economy is projected to expand to USD 4.7 trillion in 2026, which will make it the fourth largest in the world behind the US, China and Germany.

In 2028, India will overtake Germany as its economy will expand to USD 5.7 trillion.

According to Morgan Stanley, India was the 12th largest economy in the world in 1990, slipped to 13th position in 2000 before rising to 9th rank in 2020 and 5th in 2023.

India's share in the world ...