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India zooms past France to become become the 6th largest economy

Thursday, July 12, 2018
By A Business Reporter

According to updated World Bank figures India is now the sixth largest economy, muscling past France to the seventh position. India has doubled its gross domestic product (GDP) within a decade.

India's GDP for 2017 stood at $2.597 trillion, compared to $2.582 trillion for France. India is now just below United Kingdom, which for the year 2017 recorded a GDP of $2.622 trillion.

The United States continues to remain the world's biggest economy, followed by China, Japan and Germany.

The International Monetary Fund (IMF) has forecast India's economy to grow at 7.4% in 2018 and 7.8% in 2019. India's growth at this pace is significantly higher than the IMF's world average of 3.9% in 2018.

India with a population of around 1.34 bn is soon expected to become the most populous nation, whereas France has a population of just 67 mn. France's per capita income is around 20 times higher than India, according to World Bank data.

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