India is the world’s fifth largest economy after Britain

India is the world’s fifth largest economy after Britain
India is the world’s fifth largest economy after Britain

India has now become the world’s fifth largest economy, overtaking Britain. In the last quarter of 2021, India rose from the sixth position to the fifth position, displacing Britain. Note that, the report said, the size of the Indian economy in the March quarter was 854.7 billion dollars.

According to Bloomberg, India has overtaken Britain in the economy. India is now the fifth largest economy in the world. India’s economy is poised to take a big leap in the last three months of the 2021-2022 financial year. As a result, UK has fallen behind, India has come forward.

The size of the Indian economy was $854.7 billion in the March quarter. The size of Britain’s economy was $816. It is adjusted using the dollar exchange rate on the last day of the quarter. The report comes just two days after the government released its first quarter GDP data.

According to the published report, the Indian economy has grown at a rate of 13.5 percent annually. However, this figure was slightly lower than the RBI’s forecast. India’s GDP growth was the highest among developing countries. However, this figure was slightly lower than the Reserve Bank of India or RBI forecast.

Right now, India’s position in the world economy list is just after USA, China, Japan and Germany. A decade ago, India’s economy was ranked 11th. From there, India rose to the fifth position. Britain slipped to sixth place. India’s transition is a significant event in the global economy.

India’s economy grew at its fastest clip in a year in the April-June quarter. According to the data released by the Ministry of Statistics and Program Implementation, the gross domestic product (GDP) of the country has increased by 4.1 percent in the previous quarter i.e. January to March of 2022. The Indian economy is on track to achieve a growth rate of over 7 percent in the current financial year, said Finance Secretary TV Somnathon. Source: TOI.


The article is in Bengali

Tags: India worlds largest economy Britain

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