Indian Economy 2019 | Indian Economy 7th largest- The Indian economy has suffered a lot due to the sluggishness of the Indian economy in 2018. From the head of India, the crown of the fifth largest economy of the world has been snatched. India has reached the seventh rank in terms of economy.
Indeed, according to the World Bank data, in the year 2018, the growth of Britain and France in the economy was much higher than that of India, due to which both of them have jumped one foot. Britain has reached 5th position, while France is at sixth position. Because of which India has slipped from the fifth position to the seventh position. While the US remains on top.
According to statistics, India’s economy grew by just 3.01 percent in 2018, while it saw an increase of 15.23 percent in 2017. Similarly, Britain’s economy grew by 6.81 percent in 2018. In which only a jump of 0.75 percent in 2017. Apart from this, if talk of France, its economy grew by 7.33 percent in 2018, which grew only 4.85 percent in 2017. In this way, the Indian economy was sluggish in 2018 compared to 2017, due to which India lagged behind in this ranking.
Looking at the World Bank’s latest data, Britain’s economy grew to $ 2.82 trillion in 2018, while France’s economy grew to $ 2.78 trillion. India’s economy could reach only $ 2.73 trillion in a year.
It is worth mentioning that in the year 2017, the head of India (about 18 thousand trillion) was crowned the crown. While Britain was sixth place and France was ranked 7th. Economists believe that being the seventh-largest in India, the weakening of the rupee against the dollar is the main reason. In the year 2017, there was a 3% jump in the rupee against the dollar. But in the year 2018, the rupee has dropped to about 5% against the dollar.
It is worth mentioning that the Modi government has been told to bring the Indian economy to $ 5 trillion in the next five years. In this case, this latest figure of the World Bank is troubling.