India is likely to surpass the United Kingdom in the world’s largest economy rankings in 2019, as per a report by global consultancy firm PwC.
As per PwC’s Global Economy Watch report, while the UK and France have regularly switched places owing to similar levels of development and equal populations, India’s climb up the rankings is likely to be permanent.
1. The PwC report has projected real GDP growth of 1.6 percent for the UK, 1.7 percent for France and 7.6 percent for India in 2019.
2. According to the projected real GDP growth rate, India and France are likely to surpass the UK in the world’s largest economy rankings in 2019, pushing it down from fifth to seventh place in the global table.
3. As per the World Bank data, in 2017, India became the sixth largest economy with a GDP of $2.59 trillion, surpassing France and pushing it to the seventh position. The GDP of France stood at $2.58 trillion.
4. The data further showed that the UK, which is currently dealing with its Brexit situation, had a GDP of $2.62 trillion, which is about $25 billion more than that of India.