New York: Eminent economist Arvind Panagariya has said India is on the cusp of returning to a high growth trajectory and voiced confidence that the country will become the world’s third-largest economy by 2027-28.

Currently, India is the fifth largest economy “so it's another five years. We are already in (the year) 2023. So 2027-28, India should be the

third-largest economy,” Panagariya, Columbia University Professor and former Vice Chairman of NITI Aayog, told PTI in an interview here.

A day before Finance Minister Nirmala Sitharaman presented the Union Budget on Wednesday, the Economic Survey tabled in Parliament pegged India’s GDP growth at 6.5 per cent in 2023-24.

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