India on route to becoming $2tn economy: IMF
20/10/2014 12:58
According to the International Monetary Fund (IMF), the Indian economy is set to hit the USD 2 trillion mark this year, as India grows in both prominence and size to become one of the world’s leading economies.
Asia’s third biggest economy is poised to be worth USD 2.05 trillion this year, up from USD 1.88 trillion in 2013, data from the Washington based lender IMF showed.
India’s Gross Domestic Product (GDP) is likely to surpass the USD 3 trillion level in 2019, the data showed.
The country’s ranking measured on the basis of “current prices” in US dollar is also likely to rise from the current tenth spot to seventh in five years in 2019.
With a total size of USD 17.42 trillion, the US comfortably remains the world’s largest economy, followed by China at USD 10.35 trillion.
India, which is likely to hit the USD 3 trillion mark in 2019 with a size of USD 3.18 trillion may nudge past the likes of Russia, Brazil and Italy to become the world’s seventh biggest economy.
The US is likely to keep its spot of being the world’s biggest economy in 2019 with a size of USD 22.15 trillion followed by China and Japan at USD 15.52 trillion and USD 5.43 trillion, respectively.
20/10/2014 12:58
According to the International Monetary Fund (IMF), the Indian economy is set to hit the USD 2 trillion mark this year, as India grows in both prominence and size to become one of the world’s leading economies.
Asia’s third biggest economy is poised to be worth USD 2.05 trillion this year, up from USD 1.88 trillion in 2013, data from the Washington based lender IMF showed.
India’s Gross Domestic Product (GDP) is likely to surpass the USD 3 trillion level in 2019, the data showed.
The country’s ranking measured on the basis of “current prices” in US dollar is also likely to rise from the current tenth spot to seventh in five years in 2019.
With a total size of USD 17.42 trillion, the US comfortably remains the world’s largest economy, followed by China at USD 10.35 trillion.
India, which is likely to hit the USD 3 trillion mark in 2019 with a size of USD 3.18 trillion may nudge past the likes of Russia, Brazil and Italy to become the world’s seventh biggest economy.
The US is likely to keep its spot of being the world’s biggest economy in 2019 with a size of USD 22.15 trillion followed by China and Japan at USD 15.52 trillion and USD 5.43 trillion, respectively.
