India behind UK, France as 7th largest economy in the world in 2018: World Bank
India behind UK, France as 7th largest economy in the world in 2018: World Bank
India saw its GDP rise from $2.65 trillion in 2017 to $2.72 trillion in 2018, but it wasn't enough to maintain its lead against the UK and France
BusinessToday.In Last Updated: August 2, 2019 | 13:55 IST
India has slipped to the 7th position in the global GDP rankings in 2018, marginally behind the UK and France, according to World Bank data. As per earlier data, India ($2.597 trillion) was on the 6th position in 2017, ahead of just France ($2.582 trillion). But, latest data suggests India was in fact the fifth-largest economy ahead of even the UK . India was at $2.65 trillion, while the UK's GDP was at $2.64 trillion, followed by France at $2.5 trillion in 2017.
India saw its GDP rise from $2.65 trillion in 2017 to $2.73 trillion in 2018, but it wasn't enough to maintain its lead against the UK and France. UK and France were ahead at $2.82 trillion and $2.77 trillion, respectively, in 2018. US ($20.49 trillion), China ($13.6 trillion) and Japan ($5 trillion) are the three largest economies in the world, according to the data. Germany was the fourth largest economy in 2018 with the GDP of $4 trillion.
2018 GDP
1. US $ 20.49 trillion 1428 లక్షల కోట్ల రూపాయలు
2. China $ 13.6 trillion 948 లక్షల కోట్ల రూపాయలు
3. Japan $ 4.97 trillion 346 లక్షల కోట్ల రూపాయలు
4. Germany $ 3.99 trillion. 278 లక్షల కోట్ల రూపాయలు
5. UK $ 2.82 trillion 196 లక్షల కోట్ల రూపాయలు
6. France $ 2.77 trillion 193 లక్షల కోట్ల రూపాయలు
7. India $ 2.73 trillion 190 లక్షల కోట్ల రూపాయలు
8. Italy $ 2.07 trillion 144 లక్షల కోట్ల రూపాయలు
9. Brazil S 1.86 trillion 129 లక్షల కోట్ల రూపాయలు
10 Canada $ 1.70 trillion 118 లక్షల కోట్ల రూపాయలు
Experts have cited the movement of the Indian rupee against the dollar as the reason for India slipping behind the two European countries.
ALSO READ:CRISIL cuts India's GDP growth to 6.9% for FY20 on weak monsoon rains, muted corporate results
According to Devendra Pant, chief economist at India Ratings, the rupee appreciated 3 per cent in 2017, while it depreciated 5 per cent in 2018 . "This has resulted in slower growth of India's economy in dollar terms in 2018 against 2017," the Business Standard quoted him as saying.
India saw its GDP rise from $2.65 trillion in 2017 to $2.72 trillion in 2018, but it wasn't enough to maintain its lead against the UK and France
BusinessToday.In Last Updated: August 2, 2019 | 13:55 IST
India has slipped to the 7th position in the global GDP rankings in 2018, marginally behind the UK and France, according to World Bank data. As per earlier data, India ($2.597 trillion) was on the 6th position in 2017, ahead of just France ($2.582 trillion). But, latest data suggests India was in fact the fifth-largest economy ahead of even the UK . India was at $2.65 trillion, while the UK's GDP was at $2.64 trillion, followed by France at $2.5 trillion in 2017.
India saw its GDP rise from $2.65 trillion in 2017 to $2.73 trillion in 2018, but it wasn't enough to maintain its lead against the UK and France. UK and France were ahead at $2.82 trillion and $2.77 trillion, respectively, in 2018. US ($20.49 trillion), China ($13.6 trillion) and Japan ($5 trillion) are the three largest economies in the world, according to the data. Germany was the fourth largest economy in 2018 with the GDP of $4 trillion.
2018 GDP
1. US $ 20.49 trillion 1428 లక్షల కోట్ల రూపాయలు
2. China $ 13.6 trillion 948 లక్షల కోట్ల రూపాయలు
3. Japan $ 4.97 trillion 346 లక్షల కోట్ల రూపాయలు
4. Germany $ 3.99 trillion. 278 లక్షల కోట్ల రూపాయలు
5. UK $ 2.82 trillion 196 లక్షల కోట్ల రూపాయలు
6. France $ 2.77 trillion 193 లక్షల కోట్ల రూపాయలు
7. India $ 2.73 trillion 190 లక్షల కోట్ల రూపాయలు
8. Italy $ 2.07 trillion 144 లక్షల కోట్ల రూపాయలు
9. Brazil S 1.86 trillion 129 లక్షల కోట్ల రూపాయలు
10 Canada $ 1.70 trillion 118 లక్షల కోట్ల రూపాయలు
Experts have cited the movement of the Indian rupee against the dollar as the reason for India slipping behind the two European countries.
ALSO READ:CRISIL cuts India's GDP growth to 6.9% for FY20 on weak monsoon rains, muted corporate results
According to Devendra Pant, chief economist at India Ratings, the rupee appreciated 3 per cent in 2017, while it depreciated 5 per cent in 2018 . "This has resulted in slower growth of India's economy in dollar terms in 2018 against 2017," the Business Standard quoted him as saying.
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