India Slips To 7th Largest Economy in Global GDP Rankings of 2018 says World Bank

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From the head of India, the crown of the fifth largest economy of the world has been snatched. India has reached seventh rank in terms of economy. The Indian economy has suffered a lot due to the sluggishness of the Indian economy in 2018. According to World Bank statistics, in the year 2018, the growth in Britain and France’s economy was much higher than India, due to which they have leaped one or two positions. Britain has reached 5th position, while France is at sixth position. Because of which India has slipped from fifth position to seventh position. The United States holds the pole position in this list.

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According to statistics, India’s economy grew by just 3.01 per cent in 2018, compared to 15.23 per cent in 2017. Similarly, Britain’s economy grew by 6.81 percent in 2018. In which only a jump of 0.75 per cent in 2017. Apart from this, if talk of France, its economy grew by 7.33 percent in 2018, which grew only 4.85 percent in 2017. In this way the Indian economy was sluggish in 2018 compared to 2017, due to which India lagged behind in this ranking.

Look at the latest World Bank statistics, the UK’s economy increased to 2.82 trillion dollars in 2018, while France’s economy increased to $ 2.78 trillion. India’s economy could reach only $ 2.73 trillion in a year.

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It is worth mentioning that in the year 2017, the head of India (about 18 thousand trillion) was crowned the crown. On the other hand, Great Britain was in sixth place and France was ranked 7th position in the rankings. Economists believe that being the seventh-largest in India, the weakening of the  Indian rupee against the American dollar is the main reason.

In the year 2017, there was a 3% jump in the rupee against the dollar. But in the year 2018, the rupee has dropped to about 5% against the dollar. It is worth mentioning that the Modi government has been told to bring the Indian economy to $ 5 trillion in the next five years. In this case, this latest figure of the World Bank is troubling.

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