India has overtaken the UK to become the world's fifth largest economy, which is undoubtedly a new blow to the British government in trouble.
According to the US media, according to the GDP data of various countries released by the International Monetary Fund (IMF), India, as a former British colony, successfully surpassed the United Kingdom and became the fifth largest economy in the world in the last three months of 2021, and India's leading edge was further expanded in the first three months of 2022.
IMF data shows that after correction, India's nominal GDP in the first three months of 2022 was 854.7 billion US dollars, while the UK's figure for the same period was 816 billion US dollars. Britain's GDP shrank by 0.1% in the second quarter of 2022, which will further widen the gap between the two sides. At the same time, the performance of the pound against the Indian rupee is not as good as that of the dollar. Since the beginning of this year, the exchange rate of the pound against the Indian rupee has dropped by 8%.
The IMF estimates that India's GDP in 2022 will still exceed that of the United Kingdom, second only to the United States, China, Japan and Germany. According to the analysis, India's economy will be about 20% larger than that of Britain in 2027.
