India fifth largest economy in the world, overtakes UK
Kathmandu, September 3. India has become the fifth largest economy in the world, according to the projections from International Monetary Fund (IMF). India is now only behind US, China, Japan and Germany.
Further, the Indian economy expanded in the April-June quarter, which made it climb the list, leaving behind UK. The United Kingdom (UK) has slipped to the sixth spot. India was at the eleventh spot and UK was in the fifth spot a decade ago.
The lead of India with UK is expected to grow wider within the next few years. The calculations were made by Bloomberg on the basis of data from IMF database and historic exchange rates on its terminal.
Moreover, India’s GDP expanded 13.5% in the April-June quarter, the fastest in a year. India also managed to overtake China in the first quarter of current fiscal year in terms of GDP.
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