NEW DELHI/WASHINGTON â While China will overtake the United States as the largest economy in the world by 2040, India will be a distant third contributor to the global GDP. This statistical prediction made by Oxford Economics has been published in the seventh edition of the U.S. National Intelligence Council's Global Trends report. The document, published every four years since 1997, assesses the key trends and uncertainties that will shape the strategic environment for the United States during the next two decades. As per the report, India is going to double its contribution to the global GDP by 2040 to 6.1 percent from 3.1 percent in 2020. India, in 2020, was at the fifth spot globally, but by 2040, will be the third largest economy. The report said India will replace Japan in the global rankings.