India becomes sixth-biggest economy in World Bank Ranking

  • According to the World Bank figures for 2017 India has become the world’s sixth-biggest economy.
  • India jumped to the sixth place edging past France in gross domestic product terms.
  • India’s GDP touched 2.597 trillion dollars in 2017 while France’s GDP was at 2.582 trillion in the same period.
  • With a GDP of $19.39 trillion, the US remains the world’s largest economy, followed by China ($12.23 trillion), Japan ($4.87 trillion), Germany ($3.67 trillion) and the United Kingdom ($2.62 trillion).
  • As per the Union Minister for Commerce and Industry Suresh Prabhu,  its a result of many structural, sectoral, socio-economic reforms. 
  • According to the Minister, India is on track to be economy of 5 trillion dollars in next few years and 10 trillion dollars in about 16 years.

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