India surpasses France to become World`s 6th largest economy

Last Updated: Wednesday, July 11, 2018, 04:07
India surpasses France to become World`s 6th largest economy
India surpasses France to become World`s sixth-largest economy in terms of Gross Domestic Product (GDP) according to World Bank. India, which has been growing at a rapid pace, has surpassed France to become the sixth largest economy in the world.

According to World Bank figures for 2017, the report said: "India`s gross domestic product (GDP) amounted to $2.597 trillion at the end of last year, against $2.582 trillion for France". According to the report, manufacturing and consumer spending were the main drivers of the Indian economy.

"India has doubled its GDP within a decade and is expected to power ahead as a key economic engine in Asia, even as China slows down," said the report. According to the International Monetary Fund, India is projected to generate growth of 7.4 per cent this year and 7.8 per cent in 2019, boosted by household spending and a tax reform. This compares to the world`s expected average growth of 3.9 per cent.
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