In 2018 India Set to Become 5th Economically Powerful Nation

Economy News

Business Mantra News

  • After structural reforms through demonization and GST, Indian economy is back on track as it is all set to become the 5th largest economy by surpassing United Kingdom and France in 2018.
  • There came slow down in the Indian economy in the first three quarter of current financial year due to demonetization and implementation of GST.
  • India’s growth ratio slipped to 5.7 percent for the three months ending June, 2017 but it recovered gradually to 6.3 percent for the quarter ending September and December, 2017.
  • India’s current rank is 7th and it is expected that it will move to 5th place in 2018 and will reached to 3rd spot till 2032, The Centre for Economics and Business Research, a London-based consultancy, said in its publication of annual ranking.
  • Douglas Mc Williams, the executive deputy director of the consultancy said that Indian economy has started to move up and it will overtake France & UK and will become the fifth largest economy of the world.
  • The report forecast that cheap energy and technology prices will help to advance the global economy in 2018.

Will the world’s economic growth be dominated by Asian economies, including India or else?

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