India surpasses France to become world sixth largest economy

Mumbai, July 12: On the development side, the Indian economy has taken a high flight. Leaving France behind the seventh rank, India now has become the sixth largest economy in the world. This is explained in the updated World Bank 2017 updated data.

 

According to this, India's GDP was 2.597 trillion dollars at the end of last year, while France's 2.582 trillion dollars.

After the recession of many quarters, India's economy started to strengthen again since July 2017. Let us tell you that India's population is currently 1 billion 34 million and it is in the forefront of becoming the world's most populous country. France's population is 6.7 million. However, in terms of per capita income, India is far behind France.

It has been stated in the report that GST and Note ban had brought a stagnation to the development but rise in pace in manufacturing, people's purchasing capacity has led to this achievement.

The US continued to be the world's biggest economy, followed by China, Japan and Germany. Britain remained the world's fifth-biggest economy with a GDP of $2.622 trillion at the end of 2017.

According to the International Monetary Fund (IMF), India's growth could be 7.4 per cent this year and due to tax reform and domestic expenditure, India's growth rate could reach 7.8 per cent in 2019. At the same time, the world's average growth rate is estimated to be 3.9 percent.