According to 2017 World Bank Figures, India has become the world’s sixth-biggest economy, pushing France into seventh place. According to the data, India’s Gross Domestic Product (GDP) amounted to USD 2.597 trillion at the end of last year (France: USD 2.582 trillion).
Manufacturing and consumer spending were the main drivers of the Indian economy last year, after a slowdown blamed on the de-monetisation of large banknotes that Modi imposed at the end of 2016, as well as a chaotic implementation of a new harmonised VAT regime.
According to the World Bank, the United States is the world’s largest economy with a size of USD 19.39 trillion, followed by China (USD 12.23 trillion) at the second place. Japan (USD 4.87 trillion) and Germany (USD 3.67 trillion) are at the third and fourth places, respectively.
Source: The Economic Times