BrahMos WORLD INDIA MADHYA PRADESH BHOPAL WTN SPECIAL Astrology GOSSIP CORNER SPORTS BUSINESS FUN FACTS ENTERTAINMENT LIFESTYLE TRAVEL ART & LITERATURE SCIENCE & TECHNOLOGY HEALTH EDUCATION DIASPORA OPINION & INTERVIEW RECIPES DRINKS FUNNY VIDEOS VIRAL ON WEB PICTURE STORIES
WTN HINDI ABOUT US PRIVACY POLICY SITEMAP CONTACT US
logo
Breaking News

Know why India doesn't remain the world's fifth largest economy?

Friday - August 2, 2019 11:37 am , Category : WTN SPECIAL
India faces big a shock on economic front
India faces big a shock on economic front

'Weakness' of Indian rupees compared to dollar backwards Indian economy!

AUG 02 (WTN) - The slowdown of the Indian economy in the year 2018 has given the country a major setback. This shock is so strong that India is no longer the world's fifth largest economy. With this shock, India has reached at number seven in terms of the world's largest economies. After all, what has happened that the Indian economy came from fifth to seventh position? Let us explain this in detail.

Britain's economy growth had reached to 2.82 trillion dollars in 2018 according to the World Bank's new figures, due to which Britain has again become the world's fifth largest economy. France's economy grew had reached to $ 2.78 trillion in 2018. For this reason, France has defeated India and got the sixth position. But due to a weak growth rate in 2018, India's economy had reached to only $ 2.73 trillion, due to which now India has slipped at 7th place below two notches.

As we told you that India is no longer the world's fifth largest economy. India has now been replaced by Britain. At the same time, India had become the sixth largest economies by surpassing which country; the same country France has now moved forward again from India. France is now ranked sixth in the world's largest economies. After France, India is at seventh position. America is still on top in this list. On the other hand, China is second, Japan is third and Germany is fourth.

Indeed, the growth rate of the UK and France was recorded much better to India in the year 2018 according to the figures received from the World Bank. Both of these countries have moved forward from India for this reason. According to the World Bank statistics, India's economy has seen an increase of just 3.01 per cent in 2018. In the year 2017, India's economy saw an increase of 15.23 percent. India had defeated economies like France and Britain in the year 2017 due to the spectacular growth rate.

Britain's growth rate was just 0.75 per cent in the year 2017, while India's growth was 15.23 per cent. For this reason India defeated Britain. The growth of Britain was 6.81 per cent in the year 2018, which was twice as high as 3.01 per cent of India's growth. That's why Britain's economy once again reversed India's economy and once again reached at the fifth position.

In addition to Britain, France's economy also grew faster than India in 2017. But in 2018 France's economy grew more than India, due to which France once again came to seventh place. France's growth rate was 4.85 percent in 2017, while the growth rate of France in the year 2018 was 7.33 percent. France's performance in 2018 was better than both India and the UK. UK and France surrendered India due to the magnificent growth rate in 2018.

The data clearly shows that India's growth rate was much higher than Britain and France in the year 2017, which benefited India and India became the world's fifth largest economy. But in the year 2018, the slowdown of the Indian economy greatly reduced the country's growth rate, which resulted in India falling from the fifth largest economy to the seventh largest economy.

For your information, let you know that due to the great growth rate of 2017, India was able to become the world's fifth largest economy. There are many reasons behind India's weak growth rate in 2018; one of the main reasons for that is Indian rupee was weak against US dollar. For your information, let you know that in the year 2017, there was a 3 per cent surge in Indian rupee compared to the US dollar, which benefited India and India became the world's fifth largest economy.

There was a considerable decline in rupee compared to the dollar in the year 2018. Let you know that in the year 2018, the Indian Rupee was down 5 per cent against the US dollar. Compared to the dollar, the risk of rupee depreciation took place on India's economy and India's economy came from fifth to seventh place. Significantly, Prime Minister Modi has said that in the next five years, the goal of reaching the Indian economy is 5 trillion dollars. But the loss of 2018's weak growth rate has worsened the Indian economy, it is worrying. If the rupee is not strong against the dollar, then it will be very difficult to achieve an economy of $ 5 trillion.