New Delhi. India has overtaken Britain and has achieved the status of the world’s 5th largest economy. America, China, Japan and Germany are now ahead of India. Let us tell you that there is a war going on in the ruling Conservative Party for the post of PM in Britain. Meanwhile, he is being considered as a big blow. According to Bloomberg, the way India is progressing, it will also become a $5 trillion economy by the year 2025. PM Narendra Modi has also talked about taking India to this achievement by this year. Recently, this figure was also revealed that India’s GDP has grown at a pace of 13.5 percent between April and June this year in the first quarter of the current financial year. Whereas, America and China were far behind.
All agencies have also estimated India’s economy to grow at an average rate of 7 percent of GDP this year. India was No. 2 in the MSCI Market Index in the last quarter. Only China was ahead of him. According to the International Monetary Fund (IMF), India has now become the 5th largest economy according to the calculation based on the US dollar. According to the IMF, according to the dollar exchange rate, India’s economy was $ 854.7 billion as of March this year. Whereas, the size of the UK economy stood at $816 billion. Talking about cash, Britain’s GDP grew by just 1 percent in the second quarter. If we add inflation figures to this, then its GDP also weakened by 0.1 percent.
Britain drops behind India to become the world’s sixth largest economy
The former British colony jumped past the UK in the final three months of 2021 to become the fifth-biggest economy ️ https://t.co/HT2xeFoIbr
— Bloomberg UK (@BloombergUK) September 2, 2022
Not only this, the performance of the British currency pound against the rupee also weakened by 8 per cent in dollar ratio. The special thing is that till just 10 years ago, India was at number 11 among the world’s major economies and Britain was at number 5. This is a worrying situation for Britain. Inflation has increased rapidly there in the last 40 years. The people of the country are troubled by the sound of recession. According to the Bank of England, this condition of Britain can remain till the year 2024.