India becomes 5th largest economy, overtakes UK, France
A US-based think tank World Population Review in its report said that India is developing into an open-market economy from its previous autarkic policies.
PTI|Last Updated: Feb 17, 2020, 11.06 PM IST
NEW DELHI: India emerged as the world's fifth largest economy by overtaking the UK and France in 2019, says a report.
A US-based think tank World Population Review in its report said that India is developing into an open-market economy from its previous autarkic policies.
"India's economy is the fifth largest in the world with a GDP of USD 2.94 trillion, overtaking the UK and France in 2019 to take the fifth spot," it said.
The size of the UK economy is USD 2.83 trillion and that of France is USD 2.71 trillion.
The report further said that in purchasing power parity (PPP) terms, India's GDP (PPP) is USD 10.51 trillion, exceeding that of Japan and Germany. Due to India's high population, India's GDP per capita is USD 2,170 (for comparison, the US is USD 62,794).
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