In an age where the term propaganda is about as common and frequently used as is the term ‘selfie’, one doesn’t quite know as to who to believe and who not to. Isn’t it?
So with that being the context, when you hear about a piece of news that says that India, a country that’s often mired in economic challenges, is all set to become the fifth largest economy of the world, you are bound to be at least a tad bit surprised.
But that said, here’s what is making news at this point in time. Apparently, India is all set to overtake Britain in becoming the fifth-largest economy in the world. This piece of news comes within days of PM Narendra Modi’s swearing-in ceremony, a nationally broadcasted event, perhaps one of extreme political, social and who knows, even economic significance.
So what is the whole deal about? Let’s find out.
Recently, according to a piece of information that was widely circulated and shared the following in regards to the current economy:
“India is forecast to become the world’s fifth largest economy in 2019, reaching a total GDP size exceeding USD 3 trillion, and overtaking its former colonial ruler, the United Kingdom. By 2025, Indian GDP is also forecast to surpass Japan, which will make India the second-largest economy in the Asia-Pacific region,” it said.
As India continues to ascend in the rankings of the world’s largest economies, its contribution to global GDP growth momentum will also increase. India will also play an increasingly important role as one of the Asia-Pacific region’s major economic growth engines, helping to drive Asian regional trade and investment flows.