India’s GDP has risen to the fifth-largest in the world once more. To move up one spot, Britain is now in sixth place
India was rated 11th among the world’s major economies ten years ago, while the UK was placed fifth.
In fact, the UK is currently experiencing its worst inflation and highest recession risk in four decades. This condition, according to the Bank of England, will last until 2024
The Indian economy, on the other hand, is anticipated to expand at a 7% rate this year.
The decline in Britain’s standing coincides with a period of political unrest and the process through which the ruling party is choosing a new prime leader
The Conservative Party will elect Boris Johnson’s replacement. There are rumours that former Chancellor Rishi Sunak is not ahead of Foreign Secretary Liz Truss.
In terms of nominal GDP, India, according to the IMF, moved up to the fifth-largest economy ($2.9 trillion) in 2019