Indian Economy: There is good news for India on the economic front. Indian economy has become the 5th largest economy in the world and India has achieved this position by overtaking Britain. In Britain, where the economy is going through many difficulties, India is included in the world’s fastest growing economy.
India has become the fifth largest economy in the world and is now followed by America, China, Japan and Germany.
Indian economy from 11th to 5th largest economy in ten years
India has achieved a great economic growth rate in the last 10 years and where a decade ago India was the 11th largest economy in the world, now it has moved up 6 places to 5th position. With this achievement of India, Britain has slipped to sixth place.
how big is india’s economy
The size of the Indian economy has increased to $ 854.7 billion in the March quarter on the basis of nominal cash as per dollar exchange rate. Whereas on this basis, the UK economy was $ 816 billion. India has overtaken Britain in the last three months of FY 2021 and according to the International Monetary Fund (IMF), India’s economic condition has strengthened even in the first quarter of FY 2022-23. In this financial year also, the Indian economy is expected to grow at the rate of 7 percent.
Great growth in India’s GDP in the first quarter
In the financial year 2022-23, India’s economic growth rate has increased at the rate of 13.5 percent and its impressive growth is a sign that the country’s economy is moving ahead at a faster pace than the crises of the Corona period. At the same time, increased inflation in Britain and the increasing risk of recession is pushing it back.
In 2019 also India became the 5th largest economy
According to the IMF, even in the year 2019, India’s economy became the 5th largest economy in terms of nominal GDP and it stood at $ 2.9 trillion. At the same time, the UK economy had come in sixth place with $ 2.8 million in front of it.
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