India surpasses France to become world's sixth largest economy: World Bank data
Ranking below the United Kingdom, India has recorded a GDP of USD 2,597,491 million, followed by USD 2,582,501 of France, while the United Kingdom recorded a GDP of USD 2,622,434 million.
Published: 11th July 2018 04:27 PM | Last Updated: 11th July 2018 11:44 PM | A+A A-
The Supreme Court of India (Photo | ANI Twitter)
NEW DELHI: New data released by the World Bank on gross domestic product (GDP) for countries has seen India zoom past France to become the world's sixth largest economy.
According to analysis of the GDP figures compiled by the World Bank for 2017, India has become the sixth largest economy with a GDP of $2.59 trillion, relegating France to the seventh position.
According to the World Bank, the GDP of France stood at $2.58 trillion during the same year.
However, India is also very close to growing past the United Kingdom (UK) too, if its growth remains at projected levels. According to the WB, the UK had a GDP of $2.62 trillion, which is just about $25 billion more than that of India.
With the UK struggling through the Brexit process and facing huge uncertainty in projected economic performance, India is set to steal UK's position on the list as soon as next year.
The country's economy grew at a seven-quarter high of 7.7 per cent in the three months ended March 2018, helped by higher government spending and investment.
As per the IMF's World Economic Outlook released in April this year, the size of the Indian economy was pegged at $2.61 trillion, ahead of France with a GDP of $2.58 trillion.
The data released also shows that the US is still the world's largest economy with a size of $19.39 trillion, followed by China at second place with $12.23 trillion. Meanwhile, Japan ($4.87 trillion) and Germany ($3.67 trillion) are at the third and fourth places, respectively.
