economymedium 1 September 2023
India Becomes World's 5th Largest Economy, Surpasses UK
Summary
In 2023, India officially became the world's 5th largest economy by GDP, surpassing the United Kingdom. India's GDP was approximately $3.7 trillion. The top 5 economies are: USA, China, Germany, Japan, India. India is projected to become the 3rd largest economy by 2027-2028, surpassing Germany and Japan. The IMF projected India's growth at 6.3% for FY 2023-24.
📌 Important Facts
- 1India: 5th largest economy by GDP ($3.7 trillion), surpassing UK.
- 2Top 5: USA, China, Germany, Japan, India.
- 3IMF projected India's growth at 6.3% for FY 2023-24.
- 4India projected to become 3rd largest by 2027-2028.
Entities Mentioned3
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