India to be third contributor to global GDP by 2040: US report By IANS | 2 Views India's FY21 GDP now expected to contract by 7.8%: Ind-Ra. Image Source: IANS News New Delhi/Washington, April 20 : 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 US 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.