The Indian economy has suffered greatly due to the weakness of its economy in 2018. The head of India, the crown of the fifth largest economy in the world, has been torn away. India is seventh in terms of economy.
In fact, according to the World Bank data, in 2018 the economic growth of Great Britain and France was much higher than that of India, thanks to which the two countries have made a leap forward. Great Britain has reached the fifth position, while France is in sixth position. As a result, India moved from fifth to seventh. While the United States remains at the top.
According to the data, the Indian economy grew by only 3.01% in 2018, while it increased by 15.23% in 2017. The British economy also grew by 6%, 81% in 2018. The only leap of 0.75% in 2017. Apart from this, if we talk about France, its economy grew by 7.33% in 2018 and by 4.85% in 2017. The Indian economy was therefore slow in 2018 compared to to 2017, India has fallen behind in this ranking.
In light of the latest data released by the World Bank, the UK economy reached $ 2.82 billion in 2018, while the French economy reached $ 2.7 trillion. At the same time, the Indian economy was only 2.73 billion dollars a year.
It should be noted that in 2017 the head of India (about 18 trillion dollars) was crowned crown. Britain was sixth and France 7th. According to economists, the weakening of the rupee against the dollar is the main reason for the delay in seventh place in India. In 2017 the rupee rose 3% against the dollar. But in 2018, the rupee fell by around 5% against the dollar.
It is significant that the Modi government has been ordered to reach $ 5 trillion over the next five years. In such a situation, the latest World Bank figures are disturbing.