Jhapa 3 July 2019/ In terms of gross domestic product (GDP), India has slipped two places to become the seventh largest economy in the world. According to data released by the World Bank for Fiscal Year 1, India has fallen to seventh position, ahead of Britain and France. India was successful in securing the fifth position in the global economy, surpassing Britain and France.
The US GDP, which ranks first in terms of GDP, has reached $ 500 trillion. Likewise, stay in second place .
Britain and France are in fifth and sixth places, with a billion-dollar economy. India’s GDP has reached $ 3 trillion. According to economists, the main reason for the Indian economy coming into seventh place in Fiscal Year 1 is the fluctuation and slow growth seen in India.
Devendra Pant, chief economist at Indian Ratings and Research, points out that even though the dollar is stronger than the Indian dollar, the weakening of the 1 is one reason for the decline in GDP.
Indian Prime Minister Narendra Modi tops 3 trillion dollars