In a recent report by IMF (International Monetary Fund) India is currently the 6th largest economy in the world. In 2017, India clocked in $2.6 trillion as the country’s GDP – the mark of a country’s economic worth.
In becoming the 6th largest economy, India displaced France from the position while falling behind USA, China, Japan, Germany & UK. And while many think of this milestone as a symbol, implications of it are far-reaching and not immediately apparent.
In reports submitted by IMF & World Bank, India has overcome adverse impacts of predictably. However, it needed measures to demonetise the economy and introduce a unified system of taxation [GST], no matter how disruptive they were.
In fact, the Fund acknowledged the Indian turnaround but kept its growth forecast unchanged to 7.4% for 2018 and 7.8% in 2019, up from 6.7% in 2017.
So, if this doesn’t cheer you up that India so far is doing well in the world economy, what will?
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