Home Economy and Finance India surges ahead, likely to overtake UK in largest economy rankings in 2019: PwC report

India surges ahead, likely to overtake UK in largest economy rankings in 2019: PwC report

India had become the world's 6th largest economy in 2017 after relegating France to the 7th spot. The PwC report also remarked that the Global Economy is expected to slow in 2019 as G7 countries return to long-run average growth rates.

As per a report by the British consultancy multinational, PwC, India is set to overtake the United Kingdoms in 2019 in the rankings of world’s largest economies. The UK is projected to fall two places to 7th with France expected to march ahead of them as well.

“India and France are likely to surpass the UK in the world’s largest economy rankings in 2019, knocking it from fifth to seventh place in the global table,” PwC’s Global Economy Watch report said. The report projects a 7.6% real GDP growth rate for India, 1.7% for France and 1.6% for the UK.

The report also remarked that although France and UK have often switched places due to roughly equal populations and levels of development, India’s climb in the rankings is likely to be permanent.

- Ad - - article resumes -

“India is the fastest growing large economy in the world, with an enormous population, favourable demographics and high catch-up potential due to low initial GDP per head. It is, therefore, all but certain to continue to rise in the global GDP league table in the coming decades,” the report states.

“India should return to a healthy growth rate of 7.6 per cent in 2019-20 if there are no major headwinds in the global economy such as enhanced trade tensions or supply-side shocks in oil. The growth will be supported through a further realisation of efficiency gains from the newly adopted GST and policy impetus expected in the first year of a new government,” Ranen Banerjee, Partner and Leader – Public Finance and Economics of PwC India was quoted as saying by PTI.

India had become the world’s 6th largest economy in 2017 after relegating France to the 7th spot. The PwC report also remarked that the Global Economy is expected to slow in 2019 as G7 countries return to long-run average growth rates.

Meanwhile, as per reports, China is suffering the impact of Trump’s Tariffs and its 2018 growth was the lowest in nearly 3 decades. The GDP grew at 6.6%, the slowest for the country in 28 years.

Help Opindia Reach Every Indian. Share This Post
We need your support to survive in the media industry. Please consider paying us for the content we produce:

To know more about these payments, please click here.


Big Story

Ever since India abolished Article 370 from its constitution, Pakistani politicians including Pakistan PM Imran Khan are having a hard time digesting the fact that India has decidedly altered the status quo in Jammu and Kashmir.

2019 World Cup Is Here!

Catch the latest on Cricket World Cup as it unfolds, special coverage by Opindia

To Advertise on Opindia.com Click here

Pakistan takes a cue from Congress yet again, asks ‘what happened to Rafale investigation’

In case Chaudhry missed out, the first Rafale jet is expected to be delivered next month.

Parody country Pakistan’s ex-minister Rehman Malik exposes his low IQ, falls for a parody account who fools him like a pro

Ever since India abolished Article 370 from its constitution, Pakistani politicians including Pakistan PM Imran Khan are having a hard time digesting the fact that India has decidedly altered the status quo in Jammu and Kashmir.

NDTV’s Interim CEO Suparna Singh resigns with immediate effect

NDTV interim CEO Suparna Singh, whose appointment as CEO was not approved by I&B ministry, has stepped down
Hartosh Singh Bal resorts to factually incorrect details to target Amit Shah

Fact-Check: Unlike Chidambaram who tried to escape from law, Amit Shah resolutely faced trial and was acquitted

Hartosh Singh Bal equated P Chidambaram's disgraceful escape with Amit Shah's tenacity to face the law

Former Pakistan army chief says Pakistan will use Kartarpur corridor to revive Khalistani terrorism in India

Gen Mirza Aslam Beg has said Pakistan army and the government should create trouble for India through Khalistan movement
Imran Khan has defended terrorists on Twitter

Imran ‘Taliban’ Khan goes on a bizarre defense of terrorists who may have infiltrated India disguised as Hindus

If harbouring, nourishing and sending terrorists to India was not enough, Pakistan has now shed all pretence and has been officially using terrorism as its state policy.

Here is how these 7 opinion pieces in 4 days reveal newspaper The Hindu’s legendary level of meltdown and arrogance

Let’s take a look at the opinion pieces published by The Hindu in their print edition, in this week

McDonald’s India admits to discriminating against non-Muslims, buys only Halal meat for its restaurants

Halal is the Islamic method of slaughter which cannot be carried out by non-Muslims.
Rajiv Gandhi's tenure saw justice, freedom and institutions compromised at every level

No Sonia Gandhi, your husband did not stand for democracy or liberty

Rajiv Gandhi had infamously justified the Sikh massacre by saying, "When a big tree falls, the earth shakes."

Read about the P Chidambaram link in the new FIR filed against NDTV by the CBI

It appears that the INX Media case, the new FIR against NDTV and arrest of P Chidambaram are all interconnected.
Subscribe to Day's Top Stories
[newsletter_form type="minimal"]
- Advertisment -

Latest articles

Connect with us

181,351FansLike
172,853FollowersFollow
91,078SubscribersSubscribe
Help Opindia Reach Every Indian. Share This Post