New Delhi: According to a Goldman Sachs report, India can sustain an 8 pc growth rate till 2020 and would overtake UK to become the world's fifth-largest economy by the middle of the next decade at this pace.

The global consultancy major said its baseline projections for India's potential output growth show that the economy can sustain growth rates of about 8 pc till 2020. This projection is significantly higher than the 5.7 pc projected in its original BRICs paper ,Goldman Sachs said in a new economic paper released today.

The report forecasts that India's gross domestic product (GDP) will surpass Italy, France and the UK by the middle of next decade (around 2015). It will then overtake Germany, Japan and finally the US before 2050, to emerge as the second-largest economy after China.