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India is world’s sixth largest economy, surpasses France

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India has become the world’s sixth largest economy overtaking France, according to World Bank data on gross domestic product (GDP) of countries for 2017.

Ranking below United Kingdom, India has recorded a GDP of $2,597,491 million, followed by $2,582,501 of France, while United Kingdom recorded a GDP of $2,622,434 million.

United States has topped the list recording a GDP of $19,390,604 million, followed by China with $12,237,700 million.

Earlier, the World Bank noted that the Indian economy recovered from the effects of demonetisation and the Goods and Services Tax (GST) and predicted a growth rate of 7.3 per cent for the country in 2018.

The International Monetary Fund (IMF) also stated that it expected India to re-emerge as one of the fastest growing major economies in the 2018 – 2019 period, projecting the country’s growth rate at 7.4 per cent in 2018.

Further, the international financial organisation forecasted a rate of growth of 7.8 per cent for 2019.

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