India surpasses the United Kingdom to become the world's fifth largest economy.

 

According to IMF projections, India has overtaken the UK to become the fifth-largest economy in the world, trailing the US, China, Japan, and Germany. To evaluate India’s economic growth, over the past decade India acquired the 5th position from 11th, while the UK remained at the 5th position for the past decade. This has been expected for some time. Bloomberg came to this conclusion by using the dollar exchange rate on the last day of the relevant quarter. The UK's nominal GDP for the April-June quarter was $763 billion, much below India's $823 billion GDP for the same period. India's economy is growing by 7% while the rest of the world is heading into a recession. Over a significant period of time, the real and nominal growth rates of the Indian economy have outpaced those of the UK. India's economy has expanded nominally at a pace of 5.71% CAGR, compared to the UK's GDP, which grew at a meagre 1.76% over the last decade Inflation rates of 10% in the UK, 9% in the US, and 6% to 7% in India are considered acceptable levels. Further, economists and industry executives claim that India's GDP is expected to rise to $5 trillion in the next four years.

 

Comments

  1. RUHAN DEBSeptember 7, 2022 at 3:45 AM

    This comment has been removed by the author.

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  2. RUHAN DEBSeptember 7, 2022 at 4:02 AM

    A very efficient blog which described the comparison between India and other nations. Keep it up brother looking forward to other blogs in the future.

    ReplyDelete
  3. Bitan MukherjeeSeptember 12, 2022 at 10:11 PM

    With such a huge potential due to our startup community and low average age ,we should be aiming to be comfortably challenging the big two within the next 10 years.

    Looking forward to the next blogs brother.

    ReplyDelete

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