India surpasses Britain to become world’s fifth largest economy

As Britain grapples with a depreciating pound sterling in a post-Brexit era and India continues to grow rapidly since its economic liberalization in 1991, the two have swapped spots in the rankings of world economies.

For the first time in 150 years, India has surpassed its erstwhile colonial master in terms of GDP, which is now the fifth largest in the world after the U.S., China, Japan and Germany.

India’s Minister of State for Home Affairs declared the news on social media.

India overtakes UK & becomes 5th largest GDP after USA, China, Japan & Germany. India may have large population base but this is a big

— Kiren Rijiju (@KirenRijiju) …

More about Gross Domestic Product, Brexit, Britain, India, and Business …read more

Via: Mashable: Business

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