In a good news, India has now become world’s sixth-largest economy, pushing past France, according to the updated World Bank figures for 2017. France has been pushed to seventh spot in the list, AFP reported. When compared with $2.582 trillion for France, India’s GDP stood at $2.597 trillion at 2017 end. The US remains the world’s largest economy followed by China, Japan, Germany and Britain, AFP reported.
In April earlier this year, the International Monetary Fund (IMF) projected India to grow at 7.4 per cent in 2018 and 7.8 percent in 2019, leaving its nearest rival China behind respectively at 6.6 and 6.4 percent in the two years.
“Growth is expected to moderate gradually in China (though with a slight upward revision to the forecast for 2018 and 2019 relative to the fall forecasts, reflecting stronger external demand), pick up in India, and remain broadly stable in the ASEAN-5 region,” the IMF had then said. Read More