Finance News

India is the world’s fifth largest economy, surpassing Britain

India’s economy has turned around after handling the shock of Corona. The country benefited from it. India is now the fifth largest economy. India has overtaken Britain to become the fifth largest economy in the world in terms of economic strength. The International Monetary Fund (IMF) has ranked Britain sixth in the list of GDP figures for different countries.

As of the last three months of 2021, India moved from the sixth place to the fifth place, displacing Britain. According to the report, the size of the Indian economy in the March quarter was 854.7 billion dollars. At that time, the size of Britain’s economy was 816 billion dollars. The calculation is done using the dollar exchange rate on the last day of the quarter.

According to the published report, the Indian economy has grown at the rate of 13.5 percent annually. Although this estimate is slightly less than the forecast of the Reserve Bank of India. India’s GDP growth was the highest among developing countries.

India’s economy, the world’s fifth-largest economy after Britain, is projected to grow by 7 percent this year. India is currently just behind the US, China, Japan and Germany in the global economy. That is, Narendra Modi’s India is in fifth place. Britain dropped to sixth place.

A decade ago, India’s economy was ranked 11th. From there, India rose to the fifth position. Political tension has been going on in Britain for the past few months. Speculation is rife as to who will succeed Boris Johnson as Prime Minister, Lees Truss or Indian-origin Rishi Sunak.

Before that, the IMF published the list of the world’s largest economies. According to many, whoever sits in the House of Representatives will have to deal with this difficult situation. Not only that, but also to pass. India overtook Britain by leaps and bounds in the last quarter of last financial year. Not only that, India’s economic growth is likely to grow at a rate of 7 percent in the current financial year as well, after overcoming the impact of Covid-19.