22.12.16

Sixth largest in the world now....

For the first time in a century, the Indian economy has overtaken the United Kingdom's, and is now the world's sixth largest by GDP, after the United States, China, Japan, Germany, and France, reports Foreign Policy magazine.
India's fast economic growth and the UK's post-Brexit slump is are behind the change.
In February, India surpassed China as the world's fastest growing economy. And in October, the International Monetary Fund predicted India would retain that title for the foreseeable future; its GDP is projected to increase by 7.6 per cent through 2017.
The UK is projected to grow by only 1.8 per cent in 2016 and 1.1 per cent in 2017. Since it voted to leave the European Union in June, which could entail leaving the EU's lucrative common market, Britain's economy and currency has struggled. India's economy benefitted from a commodities price slump through large trade gains.




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