18 Dec '16, 9pm

India’s Economy Surpasses That Of The UK, The Country That Ruled India For 200 Years https://t.co/XwfYbG7ton

India’s Economy Surpasses That Of The UK, The Country That Ruled India For 200 Years https://t.co/XwfYbG7ton

For the first time in over 100 years, Indian economy is larger than the UK’s. The Indian economy achieved this milestone owing to rapid economic growth in the country for over 25 years as well as decline in the United kingdom (UK) following the Brexit vote. At current exchange rates (December 16), UK’s 2016 GDP of GBP 1.87 trillion comes to $2.29 trillion, whereas India’s GDP of Rs 153 trillion converts to $2.30 trillion. Earlier, it was expected that India will overtake UK’s GDP in 2020, but given the nearly 20 per cent decline in the value of the pound over the last 12 months, the feat was achieved in 2016. The gap between the two GDPs is also expected to widen further as India is likely to grow at 6 to 8 per cent as against UK’s growth of 1 to 2 per cent per annum until 2020, and likely beyond. The figures also take into considerations the fluctuations in the currency. ...

Full article: http://www.defencenews.in/article.aspx?id=189672

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