India surpasses Britain to become the fifth largest economy in the world.
India has leapt past the United Kingdom in the final three months of the year 2021 to surpass UK’s economy.
India surpasses Britain to become the largest economy
The calculation is done based on US dollars. As per the reports from IMF, India has extended its lead in the first quarter.
For the United Kingdom, the decline in the country’s International Ranking is not satisfying for the new Prime Minister. Conservative Party Members had chosen Boris Johnson’s successor on Monday.
Reports further state, that the Indian Economy to grow more than seven per cent in the coming year.
The IMF’s own forecasts show India overtaking the UK in dollar terms on an annual basis this year, putting the Asian powerhouse behind the US, China, Japan and Germany.