Business

India Surpasses France To Become 6th Largest Economy In The World

JAVED SAIFI | 0
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| July 11 , 2018 , 16:22 IST

After being titled as the fastest growing economy in the world, India has become the sixth largest economy in the world surpassing France, as per the data released on Wednesday by the world bank for 2017.

The US leads the table again followed by China and Japan.

At the end of last year, India’s GDP (Gross Domestic Product) was valued at $2.597 trillion in comparison to France GDP at $2.582 trillion.

India is one of the most populous countries in the world with a population of around 1.34 billion, whereas French population stands at 67 million which means that India's per capita GDP is still just a fraction of France. But the data shows that Indian economy is again back on track.

Also Read:  India To Regain Status Of Fastest Growing Economy By 2019, With 7.4 % Growth Forecast: IMF

After the early effects of demonetisation and implementation of Goods and Service Tax, Indian economy is projected to generate a growth of 7.4 percent this year and 7.8 percent in the coming year according to the International Monetary Fund (IMF).

Earlier, the Centre for Economics and Business Research (CEBR) had predicted that India will rise from its current 7th rank to overtake Britain and France at the end of 2017, but Britain was still the fifth largest economy in the world with a Gross Domestic Product (GDP) of $2.622 trillion.