Since 2014 elections when PM Narendra Modi came into power, India has achieved a new position and is now the world’s sixth largest economy. India has secured this position by beating other four big economies of the world. According to the reports, if the GDP growth of the country continues its 7% plus trajectory than definitely, India will beat the economy of the United Kingdom as well.
In 2014, before Modi’s government came into existence, India at the 10th position was way behind United States, China, and several other bigger economies of the world, and remained at such a low position for almost four continuous years, from 2011 to 2014, said our sources.
According to the world bank’s recent reports, with a total GDP of $2.597 trillion at the end of the year, 2017 India is just $25 billion behind the United Kingdom. Besides this, as per The International Monetary Fund (IMF), India in 2018 has been estimated to grow at 7.4% and 7.8% in 2019 while its contender China is left behind at 6.6 and 6.4% respectively.
Besides this, BofA Merrill Lynch Global Research has calculated that till 2028 India will become a $6 trillion economy and will surely surpass Germany and Japan in nominal GDP in dollar term. Achieving this, India will become the third largest economy in the world till 2018 and the reason behind this growth will be shared by digitisation, a report by Morgan Stanley said.
On this Niti Aayog vice-chairman Rajiv Kumar shared his views and said that India is soon going to surpass the United Kingdom and will become the fifth largest economy in the world. He further said that with such a growth rate we will soon achieve the big positions but still our per capita income is 20 times lower than that of France and so we need not stop here.
In the context of this Kumar said that “since now India is the sixth largest economy, so more and more will be expected from India on the global stage. So we will have to make that necessary preparation and create that capacity where we can intervene on a global stage in a meaningful way with a clear pursuit of our national interest. There, we will have to create our own model of thinking, our own model of strategic interventions.”