According to the World Bank data on the gross domestic product (GDP) of countries for 2017, India has become the world’s sixth largest economy. The country has overtaken France.
India has recorded a GDP of USD 2,597,491 million, followed by USD 2,582,501 of France, However, India is below United Kingdom which recorded a GDP of USD 2,622,434 million.
With GDP of USD 19,390,604 million, United States has topped the list, followed by China with USD 12,237,700 million.
The World Bank, earlier, said that the Indian economy recovered from the effects of demonetisation and the Goods and Services Tax (GST). It predicted a growth rate of 7.3 percent for the country in 2018.
Projecting the country’s growth rate at 7.4 percent in 2018, the International Monetary Fund (IMF) also stated that it expected India to re-emerge as one of the fastest growing economies in the 2018 – 2019 period.