Friday, April 23, 2021

Indian Economy Surpassess France to Emerge 6th Largest: World Bank

India has gone past France to emerge as the sixth largest economy of the world, as per the latest World Bank trends. Indian Economy is one of the fastest booming economies in the world and also one of the biggest emerging global markets. India’s GDP at the end of 2017 stood at $2.597 trillion while that of France was $ 2.582 trillion. 

After facing certain slowdowns the economy of India recovered well in 2017 and went on to surpass France. Indian economy pushed France to the seventh spot as per the latest trends from the World Bank.

But given the large difference in population of India and France, France’s per capita GDP remains 20 times higher than that of India. According to the International Monetary Fund, India is projected to grow at 7.4% this year while India’s growth for 2019 is projected to be 7.8% as per the IMF. This growth has been bolstered by reforms in tax structure and India’s commitment to spend on household funding. India stands tall in contrast to the world average the expected growth of 3.9 per cent.

The U.S remains at the top 

The US was on top of the list as per the latest trends followed by China. At the third spot Japan while Germany took the fourth spot. Britain with a GDP of $ 2.62 trillion is the fifth largest economy of the world.
As per economic experts, India stands a great chance to become the third largest economy of the world by 2032. India’s GDP has doubled in a decade and that shows a great precedent for the Indian economy to take long strides and compete with the largest economies of the world.

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