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India is the world’s sixth largest economy. Next Year, will get fourth position.

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Paris, 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 has been informed in the updated World Bank 2017 updated statistics. According to this, India’s GDP was 2.597 trillion dollars at the end of last year, while France had 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 1.34 billion and it is on the move towards becoming the world’s most populous country. On the other hand, France’s population is 6.7 million. According to statistics, the per capita GDP of France is 20 times more than India.

Manufacturing and consumer spending last year, due to note-taking and stagnation due to GST (goods and services tax) last year, has been the main reason for the Indian economy to accelerate. In a decade, India has doubled its GDP and it is expected that China may slow down and India can emerge as a major economic power in Asia.

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

London-based Consultancy Center for Economics and Business Research had said last year that India would leave both Britain and France in terms of GDP. Not only that, by 2032, there is also the possibility of India becoming the third largest economy in the world. At the end of 2017, Britain was the world’s fifth largest economy with 2.622 trillion GDP. Let us tell you that at this time America is the world’s top economy, followed by China, Japan and Germany.