The Global Kashmir
No Result
View All Result
  • Home
  • News
    • Kashmir
    • Jammu
  • National
  • World
  • Business
  • Editorial
  • Health
  • Opinion
  • Sports
  • Tech
  • E-Paper
en English
ar Arabiczh-CN Chinese (Simplified)en Englishru Russianes Spanishur Urdu
No Result
View All Result
  • Home
  • News
    • Kashmir
    • Jammu
  • National
  • World
  • Business
  • Editorial
  • Health
  • Opinion
  • Sports
  • Tech
  • E-Paper
No Result
View All Result
The Global Kashmir
No Result
View All Result
IMG 20220903 194909

India pips UK to become 5th largest economy; here is what analysts say

India has become the fifth largest economy in the world beating the United Kingdom. This is a proud moment for the country and India's position would strengthen further in the coming years on the back of higher economic growth, business leaders and analysts said.

News Desk by News Desk
September 3, 2022
Reading Time: 2 mins read
0
3
VIEWS
Share on Facebook

India has become the fifth largest economy in the world beating the United Kingdom. This is a proud moment for the country and India’s position would strengthen further in the coming years on the back of higher economic growth, business leaders and analysts said.

READ ALSO

Markets Climb In Early Trade On Firm Global Trends, Encouraging Domestic Macroeconomic Data

Return on capital very low, expects tariff hike: Bharti Airtel Chairman

Rupee slips 10p to 82.709 vs dollar in early trade

“Proud moment for India to pip UK, our colonial ruler, as the 5th largest economy,” Uday Kotak, Chief Executive Officer (CEO), Kotak Mahindra Bank, said in a tweet. As per the International Monetary Fund (IMF) data, India overtook the United Kingdom in the final three months of 2021 to become the fifth largest economy in the world, according to a media report.

Now India is just behind four countries in terms of the size of the economy in terms of dollar terms. The countries whose economy size is bigger than India are: the United States, China, Japan and Germany. The UK is now behind India in the sixth position.

“We have exceeded the UK in GDP figures in 2022. By 2027, we will be much higher than them in terms of economic performance. UK’s economy is shrinking, India’s is booming,” said Charan Singh, economist and chief executive of EGROW.

“While the world is on the brink of a recession, India is growing by 7 per cent. There is inflation of 10 per cent in the UK, 9 per cent in the United States of America while in India it 6-7 per cent, which is normal. It is a good news for all Indians before the auspicious occasion of Diwali,” Singh told.

Reacting on the news of India overtaking the UK to become the fifth largest economy, Mahindra Group Chairman Anand Mahindra twitted: “The law of Karma works. News that would have filled the hearts of every Indian that fought hard & sacrificed much for freedom. And a silent but strong reply to those who thought India would descend into chaos. A time for silent reflection, gratitude.”

Before 2014, we were in fragile five economies. It is a huge feat to become the 5th largest economy and surpass an economy like Britain from that position,” said Meenakashi Lekhi, Minister of State for External Affairs and Culture.

ADVERTISEMENT

While India has overtaken the United Kingdom in terms of the size of the economy, the per capita income in India remains very low because of the high population.

India $3.5 trillion vs UK $3.2 trillion. But a reality check of population denominator: India: 1.4 billion vs UK 0.068 billion. Hence, per capita GDP we at $2,500 vs $47,000. We have miles to go…Let’s be at it, Uday Kotak said in the tweet.

ShareTweetSendSharePinShare
ADVERTISEMENT
Previous Post

India’s first Night Sky Sanctuary to be set up in Ladakh

Next Post

J&K grenade attack case: Main conspirator arrested, two grenades seized

RelatedPosts

Markets Climb In Early Trade On Firm Global Trends, Encouraging Domestic Macroeconomic Data

Markets Climb In Early Trade On Firm Global Trends, Encouraging Domestic Macroeconomic Data

September 4, 2023
Return on capital very low, expects tariff hike: Bharti Airtel Chairman

Return on capital very low, expects tariff hike: Bharti Airtel Chairman

February 28, 2023
Rupee slips 10p to 82.709 vs dollar in early trade

Rupee slips 10p to 82.709 vs dollar in early trade

December 21, 2022

World Bank revises upwards India’s GDP growth forecast to 6.9% for FY23

Indian stock markets touch new highs on Tuesday

Rupee falls 37 paise to 81.63 against US dollar in early trade

Rupee falls 66 paise to 81.57 against US dollar in early trade

Rupee gains 14 paise to 81.14 against US dollar

US orders Tata-group owned Air India to pay whopping $121.5 million as refunds, $1.4 million as penalties

Next Post
CBK arrests man for misrepresenting himself as SLTC expert of J&K Housing Board

J&K grenade attack case: Main conspirator arrested, two grenades seized

Kashmir to get GI registration of 5 more Crafts

Kashmir to get GI registration of 5 more Crafts

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ADVERTISEMENT

Company Info

Address: F11 silk factory road Tulsibagh, Srinagar
Phone : 9797970347.
Email : globalkashmir786@gmail.com
Owner, printer, publisher Editor : Suhail Yousuf Shah
Legal advisor : Advocate Umar Mushtaq
Printed at : LUBAAB PUBLICATIONS LAWAYPORA SRINAGAR
Published from : Green house Soitang, Srinagar, Kashmir.
RNI No : JKENG/2011/38364
Office No's :
Postal Regd No : JKNP 160 / SKGPO 2012 - 2014

About

The Global Kashmir was founded in Srinagar, with a vision to promote positive news from the Kashmir valley and across the globe. Covering first hand, all categories of news from different corners of Jammu and Kashmir as well as relevant national and international news stories. Global Kashmir is dedicated to providing unbiased stories that are yet to be told...

News By Topic

Company Info

  • Contact Us
  • About

© 2022 - Global Kashmir

No Result
View All Result
  • Home
  • News
    • Kashmir
    • Jammu
  • National
  • World
  • Business
  • Editorial
  • Health
  • Opinion
  • Sports
  • Tech
  • E-Paper

© 2022 - Global Kashmir