India overtakes U.K. to become fifth largest economy in the world
2 years, 4 months ago

India overtakes U.K. to become fifth largest economy in the world

The Hindu  

September 03, 2022 04:50 pm | Updated 06:10 pm IST - New Delhi: India has overtaken the U.K. to become the world's fifth-largest economy and is now behind only the US, China, Japan and Germany, according to IMF projections. "Proud moment for India to pip the U.K., our colonial ruler, as the 5th largest economy: India $3.5 trillion vs UK $3.2 trillion. Proud moment for India to pip UK, our colonial ruler, as the 5th largest economy: India $3.5trn vs UK $3.2trn.But a reality check of population denominator: India: 1.4 bn vs UK.068 bn.Hence,per capita GDP we at $2,500 vs $47,000. India's GDP expanded 13.5% in the April-June quarter, the quickest pace in a year, to retain the world's fastest growing economy tag but rising interest costs and the looming threat of a recession in major world economies could slow the momentum in the coming quarters.

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History of this topic

The UK is open for business and India features high on its speed-dial
1 month ago

The UK is open for business and India features high on its speed-dial

Live Mint  

Prime Minister Keir Starmer and Prime Minister Narendra Modi sat down together at the G20 Summit in Brazil for what both have described as an extremely productive meeting. And initiatives like the UK-India Infrastructure Financing Bridge between Niti Aayog and the City of London are bringing the UK’s financing expertise to bear in supporting India’s growth. A new National Wealth …

India ranks 3rd globally with 185 billionaires in 2024, wealth up 42%: Report
1 month, 1 week ago

India ranks 3rd globally with 185 billionaires in 2024, wealth up 42%: Report

Live Mint  

India has emerged as the third-largest hub for billionaires globally, boasting 185 individuals in 2024, according to UBS’ latest Billionaire Ambitions Report. Billionaire Wealth Surges in India The collective net worth of India’s billionaires soared by 42.1% over the past year to $905.6 billion, reflecting the country’s strong economic momentum. Meanwhile, China experienced a decline, losing 93 billionaires as its …

India's growth offers phenomenal opportunities to American investors: K V Subramanian
1 month, 1 week ago

India's growth offers phenomenal opportunities to American investors: K V Subramanian

Deccan Chronicle  

Washington: Of the belief that India is headed to be a USD 55 trillion economy by 2047, India's Executive Director at the IMF Dr K V Subramanian said India's growth offers phenomenal opportunities to American investors. "The opportunities that are available for the American investors actually are phenomenal., I don't think there is any other economy that is actually going …

IMF Sees India's Economic Growth and Outlook as Stable
2 months, 3 weeks ago

IMF Sees India's Economic Growth and Outlook as Stable

New Indian Express  

India remains the world's fastest-growing economy, with inflation expected to decline to 4.4% in FY24-25. IMF Director Krishna Srinivasan highlights the country's strong macroeconomic fundamentals, including a large and growing population, favourable harvests, and a stable fiscal situation. Srinivasan suggests that the country focus on creating jobs, removing trade restrictions, and investing in infrastructure and education to strengthen its economy …

Colonialism decimated innovation and research in India, says Governor R.N. Ravi
7 months, 2 weeks ago

Colonialism decimated innovation and research in India, says Governor R.N. Ravi

The Hindu  

Tamil Nadu Governor R.N. Ravi on Monday said that the education system that was a legacy of colonial rule had resulted in the “spirit of innovation and research” being decimated over a period of time. The Governor blamed the colonial British government for decimating the “spirit of innovation and research” that he said was the hallmark of the country prior …

India all set to overtake Japan as fourth largest economy by 2025, predicts Amitabh Kant
8 months ago

India all set to overtake Japan as fourth largest economy by 2025, predicts Amitabh Kant

India TV News  

Citing various macroeconomic parameters that are doing pretty well, India's G20 Sherpa and former CEO of Niti Aayog Amitabh Kant projected that the country is all set to overtake Japan as 4th largest economy in the world by 2025. Some highlights of India's journey to the top 5 economies of the world in 2024 from Fragile 5 in 2013, according …

P Chidambaram's ‘no magic’ barb at PM Modi on ‘India becoming 3rd largest economy’
8 months, 2 weeks ago

P Chidambaram's ‘no magic’ barb at PM Modi on ‘India becoming 3rd largest economy’

Hindustan Times  

Former finance minister P Chidambaram said India will become the third largest economy in the world regardless of who becomes the PM, describing Prime Minister Narendra Modi as a “master of exaggeration” for “turning an arithmetic inevitability into a guarantee”. Former finance minister P Chidambaram said India would achieve the feat given the size of its population and there was …

Top 1% Indians’ income share is higher now than under British-rule: Data
9 months, 3 weeks ago

Top 1% Indians’ income share is higher now than under British-rule: Data

The Hindu  

March 23, 2024 08:28 am | Updated 05:23 pm IST In 2022, 22.6% of the national income went to the top 1% of Indians. Chart 2 | The chart shows the year-wise share of national income for the top 10%, the bottom 50% and the middle 40% of the population To start with, in the 1950s and 60s, the income …

India needs to grow at rapid rates to become $35 trn economy by 2047: Kant
10 months, 3 weeks ago

India needs to grow at rapid rates to become $35 trn economy by 2047: Kant

Business Standard  

"Our aim will be to become the cheapest producer, the cheapest exporter of green hydrogen and its liquid form ammonia and to be the biggest manufacturer of electrolyzer," he said | Photo: Bloomberg India will be the third largest economy by 2027 and it needs to grow at rapid rates to become a $35 trillion economy by 2047, the country's …

Indian economy to grow close to 7% in FY25, hit $7 trillion by 2030: FinMin
11 months, 2 weeks ago

Indian economy to grow close to 7% in FY25, hit $7 trillion by 2030: FinMin

Live Mint  

Even as the finance ministry expects FY24 economic growth to exceed the central bank’s projection of 7%, it also expects growth in the following year, FY25, to be close to 7%, even though geopolitical risks could lead to supply chain disruptions and a rise in inflation. The ministry’s latest monthly economic review also said that under reasonable assumptions, India can …

Focus on India's Strengths for Faster Growth: Rajan
1 year ago

Focus on India's Strengths for Faster Growth: Rajan

Deccan Chronicle  

In 2005, Dr Raghuram Rajan, then with the International Monetary Fund, drew disapproving looks from an audience of economists and bankers in Jackson Hole, Wyoming, in the US, when he said the roll-out of complicated instruments, such as credit-default swaps and mortgage-backed securities, made the global financial system a riskier place. Dr Rajan, Katherine Dusak Miller Distinguished Service Professor of …

India to be world's third-largest economy by 2030: S&P
1 year, 1 month ago

India to be world's third-largest economy by 2030: S&P

The Hindu  

India will remain the fastest-growing major economy for at least the next three years, setting it on course to become the world's third-largest economy by 2030, S&P Global Ratings said in a report. India's gross domestic product grew a bigger-than-expected 7.6% in the second quarter of fiscal 2024, data showed last week, which prompted several brokerages to raise their full-year …

A $5 trillion economy, but for whom?
1 year, 1 month ago

A $5 trillion economy, but for whom?

The Hindu  

Last week, at an election rally in Chhattisgarh, Prime Minister Narendra Modi announced that he is extending the Pradhan Mantri Garib Kalyan Ann Yojna, a scheme providing 5 kg of foodgrains free every month to beneficiaries of the National Food Security Act, by five years because he does not want any citizen to sleep hungry. This is the year the …

India makes it to $4 trillion economy club
1 year, 1 month ago

India makes it to $4 trillion economy club

Deccan Chronicle  

New Delhi: Achieving a historic milestone, India's economy on Sunday crossed the $4 trillion mark in its gross domestic product in nominal terms for the first time ever, several media reports said, citing a purported screenshot of a live GDP tracker of all economies based on the IMF data. After the report surfaced in the media circle, BJP leaders, ministers …

Fragile Five to Top Five: How India had become the fifth largest economy in 2021 itself
1 year, 2 months ago

Fragile Five to Top Five: How India had become the fifth largest economy in 2021 itself

Firstpost  

On 20 October, Prime Minister Narendra Modi opened the newest stretch of line on the metro in Bengaluru. The IMF expects India to be the fastest growing economy till 2028 at least, growing above 6 percent every single year! India became the 5th largest economy in 2021 itself When India became the world’s 5th largest economy this year, there was …

India to surpass Japan to become second largest economy in Asia by 2030, says S&P Global
1 year, 2 months ago

India to surpass Japan to become second largest economy in Asia by 2030, says S&P Global

India TV News  

Indian economy: India, the world's fifth largest economy in the world, is likely to overtake Japan to become the world's third-largest economy with a GDP of USD 7.3 trillion by 2030, S&P Global Market Intelligence said in its latest issue of PMI. The acceleration of foreign direct investment inflows into India over the past decade reflects the favourable long-term growth …

India Should Be $5 Tn Economy by 2027-28, Says Member of EAC-PM Sanyal After Modi’s ‘Guarantee’
1 year, 4 months ago

India Should Be $5 Tn Economy by 2027-28, Says Member of EAC-PM Sanyal After Modi’s ‘Guarantee’

News 18  

With Prime Minister Narendra Modi declaring that India is expected to be the world’s third largest economy in the next five years on the 77th Independence Day from the ramparts of the Red Fort on Tuesday morning, Sanjeev Sanyal, member of Economic Advisory Council to the Prime Minister, spoke exclusively to News18 in which he stressed that more economic reforms …

Modi says India’s economy will be among the top three in the world within five years
1 year, 4 months ago

Modi says India’s economy will be among the top three in the world within five years

Associated Press  

NEW DELHI — Prime Minister Narendra Modi said India’s economy will be among the top three in the world within five years, as he marked 76 years of independence from British rule on Tuesday. Wearing a flowing, multi-colored turban, Modi addressed the country from New Delhi’s 17th century Mughal-era Red Fort, saying his government had lifted over 130 million people …

Fragile 5 to Top 5: India scripts economic turnaround story in 9 years
1 year, 6 months ago

Fragile 5 to Top 5: India scripts economic turnaround story in 9 years

Deccan Chronicle  

Hyderabad: As the United States pulls out all stops to make Prime Minister Narendra Modi's state visit a huge success, India basks in a new glory of being a key indispensable partner of the developed economies to ring-fence the world from a coalition of autocrats. Now, India is the fifth largest economy in the world — in a complete contrast …

India’s GDP has touched $3.75 trillion-mark in 2023: Nirmala Sitharaman
1 year, 7 months ago

India’s GDP has touched $3.75 trillion-mark in 2023: Nirmala Sitharaman

Live Mint  

India's gross domestic product has touched the $3.75 trillion-mark in 2023 so far from around $2 trillion in 2014, said finance minister Nirmala Sitharaman on June 12. Recent government data revealed that India's GDP grew by 6.1 per cent in the fourth quarter of fiscal year 2022-23 beating Street estimates. Recently, ratings agency Moody's estimated the Indian economy to clock …

'GDP growth exemplifies tenacity of people amid global challenges': PM Modi lauds India's outstanding economic progress
1 year, 7 months ago

'GDP growth exemplifies tenacity of people amid global challenges': PM Modi lauds India's outstanding economic progress

Firstpost  

According to data released by the National Statistical Office, India’s economy will see an overall growth of 7.2 per cent in FY23. The country has witnessed steady growth among some of the fastest-growing economies including China and the US Lauding the Indian economy’s exceptional growth in Q4 FY23, Prime Minister Narendra Modi said that the latest figures by National Statistical …

India to remain 5th largest economy in 2023, says RBI bulletin
1 year, 11 months ago

India to remain 5th largest economy in 2023, says RBI bulletin

Live Mint  

A Reserve Bank of India bulletin said on Thursday that India will maintain its position as the fifth-largest economy in 2023. It further said that India will become a USD 3.7 trillion economy in 2023 and will continue to maintain its lead on the United Kingdom, stressing that the macroeconomic stability is getting entrenched. Recent data arrivals indicate that the …

What the GDP numbers say
2 years, 1 month ago

What the GDP numbers say

Hindustan Times  

September quarter Gross Domestic Product numbers, which were released on November 30, are in perfect sync with the Reserve Bank of India ’s projection of 6.3%. If inflation continues to moderate — most forecasters, including RBI, believe that it will — and there is a sincere, even if gradual step towards fiscal consolidation in the forthcoming Budget, India will continue …

’Economy on fifth spot under chaiwala…’: PM Modi takes jibe at predecessor
2 years, 1 month ago

’Economy on fifth spot under chaiwala…’: PM Modi takes jibe at predecessor

Live Mint  

Prime Minister Narendra Modi on Monday targeted his predecessor Manmohan Singh in a veiled attack on the growth of the Indian economy, saying the country climbed up by one position to reach the tenth spot despite a renowned economist being the PM in the Congress-led government for ten years till 2014. He called himself a humble 'chaiwala' and said that …

Sunanda K. Datta-Ray | The other side of life in the 5th largest economy
2 years, 3 months ago

Sunanda K. Datta-Ray | The other side of life in the 5th largest economy

Deccan Chronicle  

The jubilation over India’s GDP outstripping Britain’s is a reminder that Indians often take pride in records that should rightly be ignored or even sometimes treated as a matter of national shame. “Proud moment for India to pip the United Kingdom, our colonial ruler, as the fifth largest economy: India $3.5 trillion vs the UK $3.2 trillion”, gushed Kotak Mahindra …

China's Zhao Lijian 'corrects' Western media on India dislodging the UK to become the 5th largest economy
2 years, 3 months ago

China's Zhao Lijian 'corrects' Western media on India dislodging the UK to become the 5th largest economy

Op India  

Chinese Foreign Ministry spokesperson Zhao Lijian on Tuesday corrected the Western media’s take on India displacing the United Kingdom in becoming the 5th largest economy in the world. “Stop describing the world from the perspective of colonists,” Lijian tweeted while sharing a ‘corrected’ version of Bloomberg UK’s tweet on India’s leap to the 5th largest economy in the world. India …

India becoming world’s 5th largest economy no ordinary feat: PM Modi
2 years, 4 months ago

India becoming world’s 5th largest economy no ordinary feat: PM Modi

Hindustan Times  

India has emerged as the fifth largest economy in the world and this is not an ordinary achievement, Prime Minister Narendra Modi said on Thursday. The Prime Minister was virtually addressing a mega medical camp organised in Olpad area of Surat city in Gujarat when he made the remarks on the Indian economy. The Prime Minister was virtually addressing a …

Number Theory: Fine print of India’s fifth largest economy status
2 years, 4 months ago

Number Theory: Fine print of India’s fifth largest economy status

Hindustan Times  

India has surged past United Kingdom to become the fifth largest economy in the world, IMF said on September 2. A historical look at India’s global GDP ranking A historical look at the IMF’s World Economic Outlook database shows that the Indian economy has made rapid gains in terms of global GDP ranking in the past decade and half. IMF’s …

PM Modi's swipe at UK: 'Left behind those who ruled India for 250 years'
2 years, 4 months ago

PM Modi's swipe at UK: 'Left behind those who ruled India for 250 years'

Hindustan Times  

India has left behind those who ruled over the country for 250 years, Prime Minister Narendra Modi said at an event on Monday. Addressing a gathering of national award-winning teachers, Modi said: “We have surpassed those who ruled us for 250 years in economic growth.” Teachers' Day: Prime Minister Narendra Modi interacts with National Award winning teachers on Teachers Day' …

Thanks to Narasimha Rao, Manmohan Singh: Former CEA on India overtaking UK
2 years, 4 months ago

Thanks to Narasimha Rao, Manmohan Singh: Former CEA on India overtaking UK

Live Mint  

If anyone gets credit for India overtaking UK’s GDP, it’s Narasimha Rao and Manmohan Singh, said Kaushik Basu, who served as the Chief Economic Adviser to Manmohan Singh between 2009 and 2012. “If anyone gets credit for India overtaking UK’s GDP, it’s Narasimha Rao & Manmohan Singh’s govts. Basu also goes on to say that, 10 years ago, it was …

DC Edit | Growth: India must aim higher
2 years, 4 months ago

DC Edit | Growth: India must aim higher

Deccan Chronicle  

India has finally overtaken its erstwhile colonial master, the United Kingdom, in terms of the size of the economy — the first time after nearly 150 years. In October 2016, India’s GDP was $2.29 trillion compared to $2.34 trillion of the Brexit-mauled UK economy — a difference of just $50 billion — which was expected to be erased by 2017. …

Uday Kotak gives a ’reality check’ as Indian economy becomes world’s 5th largest
2 years, 4 months ago

Uday Kotak gives a ’reality check’ as Indian economy becomes world’s 5th largest

Live Mint  

India has become the world's 5th largest economy, overtaking Britain and the unprecedented moment is hailed by several industrialists, business tycoons, and bankers. Ace banker Uday Kotak, the managing director of Kotak Mahindra Bank also hailed India for achieving such an impressive milestone but he also gave a reality check on the "population denominator". Kotak wrote, "Proud moment for India …

Indian Economy Likely To Become World's Third Largest By 2029: SBI Report
2 years, 4 months ago

Indian Economy Likely To Become World's Third Largest By 2029: SBI Report

News 18  

Even as India has surpassed the UK in terms of gross domestic product to become the fifth largest economy, an SBI report now says that the Indian economy is expected to become the third largest in the world by 2029, overtaking Germany and Japan as well. The share of India’s GDP is now at 3.5 per cent, as against 2.6 …

India set to become 3rd largest economy by 2030, say experts
2 years, 4 months ago

India set to become 3rd largest economy by 2030, say experts

India TV News  

Highlights India overtook the United Kingdom as the fifth largest economy in the world Now, experts suggest that by 2030 India will become the third largest economy globally This is 2nd time India has beaten the UK in terms of economy, with the first one being in 2019 Indian economy news : After India overtook the United Kingdom as the …

India to be 2nd biggest economy in world by 2047: Commerce secretary
2 years, 4 months ago

India to be 2nd biggest economy in world by 2047: Commerce secretary

Live Mint  

Commerce secretary BVR Subrahmanyam said on Saturday India will become the second largest economy in the world by 2047. The commerce secretary also said India's exports grew by 17 percent year-on-year in the first five months of the current financial year. From April-August 2022-23, India's merchandise export was $192.59 billion compared to $164.44 billion in the corresponding period last year. …

India overtakes UK to become 5th largest economy in the world
2 years, 4 months ago

India overtakes UK to become 5th largest economy in the world

Deccan Chronicle  

NEW DELHI: India has overtaken the UK to become the world's fifth-largest economy and is now behind only the US, China, Japan and Germany, according to IMF projections. "Proud moment for India to pip the UK, our colonial ruler, as the 5th largest economy: India $3.5 trillion vs UK $3.2 trillion. India's GDP expanded 13.5 per cent in the April-June …

India becomes fifth-largest economy: What analysts are saying
2 years, 4 months ago

India becomes fifth-largest economy: What analysts are saying

Live Mint  

India has overtaken the UK to become the fifth-largest economy in the world. According to figures from the International Monetary Fund, India passed the United Kingdom to become the fifth-largest economy in the world in the last quarter of 2021. "Proud moment for India to pip UK, our colonial ruler, as the 5th largest economy," Uday Kotak, Chief Executive Officer, …

Not Only Economy, India is Zooming Past Most Nations in Food, Heritage & Languages
2 years, 4 months ago

Not Only Economy, India is Zooming Past Most Nations in Food, Heritage & Languages

News 18  

India has leapt past the UK in the last three months of 2021 to become the fifth-biggest economy in the world, according to International Monetary Fund data. The development comes just days after government data showed that India’s GDP rose 13.5 per cent in the June 2022 quarter of the FY 23. GDP Expands in First Quarter India’s economy grew …

India leaps past UK to become world's fifth-largest economy
2 years, 4 months ago

India leaps past UK to become world's fifth-largest economy

India Today  

India surpassed Britain on Saturday to become the world’s fifth largest economy. According to GDP figures from the International Monetary Fund, the UK’s economy dropped behind India in its first quarter. The IMF's own forecasts suggest that India could potentially surpass the UK in dollar terms on an annual basis in 2022. On an adjusted basis and using the dollar …

India overtakes UK to become world\'s fifth biggest economy
2 years, 4 months ago

India overtakes UK to become world\'s fifth biggest economy

Deccan Chronicle  

Britain has dropped behind India to become the world’s sixth largest economy, delivering a further blow to the government in London as it grapples with a brutal cost-of-living shock. Conservative Party members choose Boris Johnson’s successor on Monday, with Foreign Secretary Liz Truss expected to beat former Chancellor of the Exchequer Rishi Sunak in the run-off. Overtaken The Indian economy …

India becomes the 5th largest world economy, overtakes UK
2 years, 4 months ago

India becomes the 5th largest world economy, overtakes UK

Op India  

India has overtaken the United Kingdom to become the 5th largest economy in the world, reported Bloomberg. Britain drops behind India to become the world’s sixth largest economy The former British colony jumped past the UK in the final three months of 2021 to become the fifth-biggest economy ⬇️ https://t.co/HT2xeFoIbr — Bloomberg UK September 2, 2022 “The UK’s decline down …

India beats UK to become world's fifth largest economy
2 years, 4 months ago

India beats UK to become world's fifth largest economy

India TV News  

India fifth largest economy: India overtook Britain to become the world's fifth-largest economy, reported Bloomberg. The Indian economy managed to topple the UK from its standing over the last three months of 2021. The report stated that the size of the Indian economy in 'nominal' cash terms in the March quarter was $854.7 billion while UK's stood at $816 billion. …

UK slips behind India to become world’s sixth biggest economy
2 years, 4 months ago

UK slips behind India to become world’s sixth biggest economy

Live Mint  

Britain has dropped behind India to become the world’s sixth largest economy, delivering a further blow to the government in London as it grapples with a brutal cost-of-living shock. The former British colony leaped past the UK in the final three months of 2021 to become the fifth-biggest economy. Conservative Party members choose Boris Johnson’s successor on Monday, with Foreign …

UK slips behind India to become world’s sixth biggest economy
2 years, 4 months ago

UK slips behind India to become world’s sixth biggest economy

Hindustan Times  

Britain has dropped behind India to become the world’s sixth largest economy, delivering a further blow to the government in London as it grapples with a brutal cost-of-living shock. The former British colony leaped past the UK in the final three months of 2021 to become the fifth-biggest economy. Conservative Party members choose Boris Johnson’s successor on Monday, with Foreign …

British economy falls behind India as recession looms
2 years, 4 months ago

British economy falls behind India as recession looms

The Telegraph  

India has overtaken the UK as the world’s fifth largest economy as Britain teeters on the brink of recession. The world’s second-most populous nation overtook the UK in the last quarter of 2021 and has since continued to increase its lead, according to an analysis of International Monetary Fund data by Bloomberg. While British growth was sluggish in the first …

Indian economy 'can touch USD 20 trillion by 2047'
2 years, 4 months ago

Indian economy 'can touch USD 20 trillion by 2047'

Firstpost  

India, which is the world’s sixth largest economy with a GDP of USD 2.7 trillion, is currently classified as a developing nation New Delhi: Economic Advisory Council to the Prime Minister Chairman Bibek Debroy on Tuesday said Indian economy’s size will touch USD 20 trillion by 2047 provided the annual average growth is 7-7.5 per cent in the next 25 …

How to sustain 7% growth for India
2 years, 4 months ago

How to sustain 7% growth for India

Live Mint  

One country stands out from the gloomy overall tone of the International Monetary Fund’s recent update of its World Economic Outlook. This is the fastest growth of any large economy except Saudi Arabia, which is the incidental beneficiary of upward pressure on global oil prices from Russian President Vladimir Putin’s war against Ukraine. One might also note that, with India’s …

The fastest-growing large economy in the world
2 years, 5 months ago

The fastest-growing large economy in the world

The Hindu  

India represents one sixth of the world and is today the third largest economy in terms of purchasing power parity. Confident foreign investor Foreign investors have cumulatively poured in half a trillion dollars into India in the past three decades, after the economy opened up. This trait is inbuilt into the resilience, the durability, as also the malleability of the …

11% growth over next decade could make India world’s second largest economy by 2031: RBI Deputy Governor
2 years, 5 months ago

11% growth over next decade could make India world’s second largest economy by 2031: RBI Deputy Governor

The Hindu  

If India achieves a growth rate of 11% into the next decade, it would become the second largest economy in the world not by 2048 as projected earlier, but by 2031, said Michael Debabrata Patra, Deputy Governor, Reserve Bank of India on Saturday. Observing India’s progress in a cross-country setting, he said today, India was the world’s sixth largest economy …

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