National / World

India overtakes France as 6th biggest economy, World Bank says credit goes to Modi govt


New Delhi, Jul 12 (IT): The latest World Bank figures have some good news for India. A World Bank report says that Indian economy has now become world's sixth-biggest pushing France to seventh place. The US leads the table as the biggest economy followed by China, Japan, Germany and Britain. The new calculations were arrived on the basis of Indian economy's performance in 2017.

India's gross domestic product (GDP) was valued at USD 2.597 trillion at the end of 2017 overtaking French economy, which was amounted at USD 2.582 trillion last year. The World Bank report said that after slowing down for several quarters, India's economy bounced back on the cue of reforms by the Narendra Modi government.

However, in terms of per capita GDP, India still lags far behind France, which is nearly 20 times bigger in comparison. This is because of the huge size of India's population, which is estimated to be around 134 crore against only 6.7 crore of France.

According to the World Bank, Indian economy has benefitted from robust performances in manufacturing sector driven by increased consumer spending. The World Bank also noted that demonetisation in November 2016 and chaotic implementation of GST (goods and services tax) rollout in July last year were to be blamed for extended slowdown
of Indian economy.

Overall, India has made rapid progress in economy doubling its GDP in less than past 10 years and emerged as the engine of economic growth in Asia at a time when Chinese economy has shown definite signs of lethargy.

The International Monetary Fund (IMF) has predicted India to grow at 7.4 per cent in 2018 and 7.8 per cent in 2019. The IMF, on the other hand, predicted that world's economy would grow at 3.9 per cent over the next year.


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Comment on this article

  • Deepak, mangalore

    Fri, Jul 13 2018

    Sikulars are unhappy now.

    DisAgree [1] Agree [3] Reply Report Abuse

  • readerwriter007, pune

    Fri, Jul 13 2018

    if negative news on Modi and his government, whole Chor party and his blind supporters start hangama.... never think whether the report is true or fake. If positive news comes on his Modi government praising their work .. even though it's from World bank now... they suspect the credibility and call it a fake news... why these people act so blind....

    DisAgree Agree [3] Reply Report Abuse

  • Vineet M, MANGALORE

    Fri, Jul 13 2018

    India was rated the 9th biggest economies in 2014 and 10th in 2013.
    In 2013 Euromonitor International said that India will be the 3rd largest economy by 2020.

    DisAgree Agree [3] Reply Report Abuse

  • Sunny shetty, udupi

    Fri, Jul 13 2018

    Chadd less slaves are the 8th wonder.......................................... of the world

    DisAgree [2] Agree [8] Reply Report Abuse

  • David Pais, Mangalore

    Fri, Jul 13 2018

    b4 they were in chaddi. now pants w/o chaddi. wa naatha attha.

    DisAgree [6] Agree [3] Reply Report Abuse

  • Amith, USA

    Fri, Jul 13 2018

    This rating is certainly given by "CHADDI BANK OF NAGPUR" and Broadcasted by "FAKU NEWS OF INDIA " definitely not by WB !!!!!!

    DisAgree [15] Agree [6] Reply Report Abuse

  • readerwriter007, pune

    Fri, Jul 13 2018

    have you gone crazy ? ... don't be so blind... how much ever you scribe and cry... drive is on and India is shining under the leadership of Modi. All these evidences it. unfortunately you, th eblind followers of a Chor party not able to accept it... rather I say digest it... what to do...

    DisAgree [2] Agree [9] Reply Report Abuse

  • sagar shetty, udupi

    Fri, Jul 13 2018

    may be from Nagpur,But not from Pakistan

    DisAgree [1] Agree [5] Reply Report Abuse

  • manoj, udupi

    Fri, Jul 13 2018

    Dear Amitha,If you hate chaddi so much than pls dont wear chaddi.

    DisAgree [1] Agree [3] Reply Report Abuse

  • Sanjeev Kamath, Udupi

    Fri, Jul 13 2018

    Every Indian worth his salt should be proud of this achievement with World Bank's corroboration. Pakoda sarcasm against this is ungrateful soul spitting in the same plate after eating a hearty meal.

    DisAgree [2] Agree [6] Reply Report Abuse

  • mohan, Mangalore

    Fri, Jul 13 2018

    Modi is saying the result of his work will show only after ten years... then how this outcome credit goes to modi..... .. modi is not done any development he is only doing on Congress made programs.....
    And economic growth......France percapta income is 42000$.... but Indian percapta income is less than 800 dollar... .. India never ouer come France in economic development......
    Pl stop giving fake news...

    DisAgree [5] Agree [8] Reply Report Abuse

  • NN, NN

    Fri, Jul 13 2018

    Good planning for development initiated by the previous government is showing the results now. The results could have been much better, if the UPA government would have continued.

    DisAgree [8] Agree [5] Reply Report Abuse

  • Valerian DSouza, Udupi/Mumbai

    Fri, Jul 13 2018

    Our economy growing is good sign.
    But whether it is just because few industrialists growing?
    Poor are becoming more poor, rich poor gap also widening!
    If poor masses purchasing power doesn't grow, where there's
    Market for products?

    DisAgree [2] Agree [7] Reply Report Abuse

  • Devkumar, Mangalore/Bangalore

    Fri, Jul 13 2018

    duniya ko patha chala modiji ka popularity..

    DisAgree [8] Agree [10] Reply Report Abuse

  • mohan, Mangalore

    Fri, Jul 13 2018

    Illiterate bakta are happy omly in fake news.....

    DisAgree [7] Agree [7] Reply Report Abuse

  • Declan, Mumbai

    Fri, Jul 13 2018

    Everything about Modi Sarkar is completely FAKE. Still we say voters are intelligent ? Intelligent but no wisdom and no maturity is more like it. Emotional idiots.

    DisAgree [10] Agree [5] Reply Report Abuse

  • Devkumar, Mangalore/Bangalore

    Fri, Jul 13 2018

    for jealousy...yet to find medicene. modiji scaling high by conquering each and every goal ....dheere se...without knowing of opponents. sirf kaam.boltha hai.
    masoor dal 140 kilo in 2014...now 70 per kilo
    arar dal 160 kilo in 2014...now 60 per kilo
    aata 30 per kilo in 2014..now 23 per.kilo
    besan 140 per.kilo in 2014 now 80 per.kilo
    i wont tell.anything....govt..is for poor people...

    DisAgree [3] Agree [18] Reply Report Abuse

  • Devkumar, Mangalore/Bangalore

    Fri, Jul 13 2018

    No comment...silence itself sound louder...turn more votes in 2019 for bjp.

    DisAgree [4] Agree [12] Reply Report Abuse

  • DON, Udupi

    Fri, Jul 13 2018

    Let alone France, India cannot even reach the standard of living and growth of china in 100 years because of Babus.

    DisAgree [2] Agree [9] Reply Report Abuse

  • Salim, Bagalkot

    Fri, Jul 13 2018

    Really a good news. . Good job by the present government.

    DisAgree [2] Agree [8] Reply Report Abuse

  • Sheikh, Karkala

    Fri, Jul 13 2018

    I have googled. But I haven’t got anything such news. But for sure media has already begun promoting BJP government for 2019. Media is making BJP work easier. They have to be thankful to them for their fruitful business???

    DisAgree [7] Agree [5] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Fri, Jul 13 2018

    Pakoda's ...

    DisAgree [7] Agree [7] Reply Report Abuse

  • Harish Hegde, Mangalore/Aramco

    Fri, Jul 13 2018

    Did the World Bank themselves did a survey and did a report or it only acted on the false report which was provided to the World Bank by the Ministry of Finance???

    DisAgree [4] Agree [19] Reply Report Abuse

  • Ashraf, Mangalore

    Fri, Jul 13 2018

    US Dollar reached 70 rupees mark.
    Very good progress. After 6 months it will reach century.

    DisAgree [4] Agree [13] Reply Report Abuse

  • Sheikh M, Mangalore

    Fri, Jul 13 2018

    In 2014 , during Congress government when a dolor value raised 60 rupees , BJP made a big uproar all over India
    Now within 4 years of span, Modi increased it to 10 rupee , Bakts can't open their mouth, because they already got 15 lakhs each

    DisAgree [2] Agree [3] Reply Report Abuse

  • Acchu, Mlore

    Fri, Jul 13 2018

    Report made by reliance group.

    DisAgree [2] Agree [14] Reply Report Abuse

  • nazeer husain, jeddah KSA

    Fri, Jul 13 2018

    The world bank offecials must fly from mumbai airport where they can see a slum which completely dictates the real impact of largest economy .

    DisAgree [1] Agree [8] Reply Report Abuse

  • The Guru, Mangalore

    Fri, Jul 13 2018

    That slum provided raw material to the worlds best brand gucci Versace... The per capita income of that slum is much more then that of average per capita of 20% of peaceful terrorists population

    DisAgree Agree [2] Reply Report Abuse

  • Moshu, Mangaluru

    Fri, Jul 13 2018

    But, this muscle growth was bound to happen anyway due to India’s consistent growth pace over the years and surely not under BJP tenure.

    But what does India’s ascension in the list of world economies mean for Indians looking from within?

    Not much, if one looks at the per capita income graph of major economies and where India stands among them. To understand this, just look at the per capita income at PPP (purchasing power parity) in both India and France. Going by the latest available figures on World Bank's website, India has an estimated per capita income of $7,060 while France has $43,720, some six times more than that of India. India ranks at the 123th position when it comes to per capita income at PPP while France ranks at the 25th position. An average Indian is far poorer than the average Frenchman if one uses this yardstick.

    DisAgree [1] Agree [5] Reply Report Abuse

  • Santan Mascarenhas, Kinnigoli/Toronto

    Fri, Jul 13 2018

    Though it is very nice to see that Indian economic growth is higher than world's economic growth, is it not comparing Goliath with David ? Our situation is so unique and so different, it is not worthy of comparing with a nation with 5% of our population and 20 times our per capita GDP. About growth, one should remember a child grows faster than an already grown adult. That is the reason, we have infant industry protection and other economic controls. Considering per capita income, we are at a level far below many third world countries.

    DisAgree [1] Agree [5] Reply Report Abuse

  • 57"Chest, Mangalore

    Fri, Jul 13 2018

    Modi's Pakoda, Chai, Pickle, Yoga and cows are main driving force!?!?!?!?!?.

    DisAgree [3] Agree [9] Reply Report Abuse

  • Nasir, Bajpe

    Fri, Jul 13 2018

    Let the world bank come and see India.

    DisAgree Agree [10] Reply Report Abuse

  • David Pais, Mangalore

    Fri, Jul 13 2018

    fake news from nagpur. india is da world's iii largest economy during upa. now slipped in2 6th largest economy, indias doomed economy under chaiwala.

    DisAgree [2] Agree [7] Reply Report Abuse

  • Anees, Karkala /Dubai

    Thu, Jul 12 2018

    Great effort for Rs 70.00 per US dollar.

    DisAgree Agree [7] Reply Report Abuse

  • HENRY MISQUITH, Bahrain

    Thu, Jul 12 2018

    India has crossed a century in world Hunger Index..

    DisAgree [5] Agree [20] Reply Report Abuse

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Title : India overtakes France as 6th biggest economy, World Bank says credit goes to Modi govt


 
 
 
 

 
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