India ranks sixth largest economy |
The International Monetary Fund kept its forecast of India`s growth unchanged at 7.4% in 2018 and 7.8% in 2019. India displaced France to take the sixth spot, though the European nation is expected to close the gap with a narrow margin. India`s Gross Domestic Product (GDP), the worth of the economy, clocked in at $2.6 trillion for 2017. That is well over the $2.5 trillion milestone that supposedly separates big economies from pretenders. So, India is now the world`s sixth largest economy, displacing France. The five economies ahead are the United States, China, Japan, Germany and United Kingdom. The ongoing spring meetings of the World Bank-IMF group have brought a steady stream of good news for India, with, it must be acknowledged, the necessary and repetitive caveats, admonitions and prescriptions, such as the dire need for reforms in labour laws.
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