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 According to a report of the Centre for Economics and Business Research (CEBR),a leading London-based consultancy, India will become the third economic superpower by 2037 and a USD ten trillion economy by 2035. The annual rate of GDP growth in India is expected to average 6.4 percent over the next five years, followed by an average of 6.5 percent over the next nine years. Research also predicts that the world will enter a recession in 2023 as higher borrowing costs to combat inflation caused a number of economies to contract. According to the British consultancy's annual World Economic League Table,The global economy surpassed USD 100 trillion for the first time in 2022 but will stall in 2023. China is expected to overtake the United States as the world's largest economy in 2036, six years later than previously predicted. According to the report, the global economy is still a long way from the USD 80,000 per capita GDP level at which carbon emissions decouple from growth, implying that additional policy interventions are required to meet the target of limiting global warming to 1.5 degree Celsius above pre-industrial levels.