India to surpass United Kingdom to become world’s fifth largest economy: PwC

  •  According to the ‘Global Economy Watch’ report by global consultancy firm PwC, India is likely to surpass the United Kingdom in the world’s largest economy rankings in 2019, to become world’s fifth largest economy. 
  • The report says that, while the UK and France have regularly switched places owing to similar levels of development and roughly equal populations, India’s climb up the rankings is likely to be permanent.
  • PwC’s  report projects real GDP growth of 1.6 per cent for the UK, 1.7 per cent for France and 7.6 per cent for India in 2019.
  • According to World Bank data, India became the world’s sixth largest economy in 2017 surpassing France and was likely to go past the UK which stood at the fifth position. 
  • The US was the world’s largest economy with a size of 19.39 trillion dollars, followed by China at 12.23 trillion dollars at the second place in 2017.

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