India supersedes France to be world`s 6th-largest economy |
India has become the world`s sixth-largest economy, pushing France into seventh place, according to the latest World Bank (WB) data for 2017. India`s GDP hit $2.597 trillion in 2017, while France`s was at $2.582 trillion. The United States (US), China, Japan, Germany and the United Kingdom (UK) occupy the top five slots with GDPs of $19.390 trillion, $12.237 trillion, $4.872 trillion, $3.677 trillion and $2.622 trillion, respectively. According to the WB, over five decades, India`s GDP has ballooned, from $37 billion in 1960, to $2.597 trillion now. Since the economic reforms announced in 1991, the nation`s GDP expanded almost nine times (in 26 years) from $267 billion in 1991 to $2.597 trillion in 2017. Prior to that, and in the preceding 26 years, the nation`s GDP grew just 3.5 times.In just the past decade, India has doubled the size of its economy, outpacing that of France. While India`s GDP has risen by an average 8.3 percent over a decade, France`s actually contracted by 0.01 percent. To add more perspective, over the past 10 years, India`s GDP grew by 116.3 percent (from $1.201 trillion in 2007 to $2.597 trillion in 2017) while France witnessed a 2.8 percent decline (from $2.657 trillion in 2007 to $2.583 trillion in 2017).
|
|
|
|