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Thu, Sep 20, 2018 | Last Updated 3:58 am IST

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US is world's top economy, followed by China, Japan & Germany

US is world's top economy, followed by China, Japan & Germany
US is world's top economy, followed by China, Japan & Germany
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According to sources and according to updated World Bank figures for 2017, India has become the world's sixth biggest economy, pushing France into seventh place. Meanwhile India's gross domestic product (GDP) amounted to $2.597 trillion at the end of last year, against $2.582 trillion for France. Accordingly India's economy rebounded strongly from July 2017, after several quarters of slowdown blamed on economic policies pursued by Prime Minister Narendra Modi's government. India, with around 1.34 billion inhabitants, is poised to become the world's most populous nation, whereas the French population stands at 67 million.



As per report manufacturing and consumer spending were the main drivers of the Indian economy last year, after a slowdown blamed on the demonetization of large banknotes that Modi imposed at the end of 2016, as well as a chaotic implementation of a new harmonized VAT regime. Presently India has doubled its GDP within a decade and is expected to power ahead as a key economic engine in Asia, even as China slows down.

US is world

Further according to the International Monetary Fund, India is projected to generate growth of 7.4% this year and 7.8% in 2019, boosted by household spending and a tax reform and this compares to the world's expected average growth of 3.9%.

US is world

US is world's top economy, followed by China, Japan & Germany
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