India is all set to overtake UK and France to become fifth-largest economy in 2018! Says an international report


What more could we Indians ask for? India is all set to overtake Britain and France to become the world’s fifth largest economy in 2018, as per reports.

Prime Minister Modiji efforts have paved the way to prosperity. Once known as the developing poor country is now in the race of becoming the world’s 5th economy among the huge heads of U.K and France. And this was definitely not an easy way to reach. What could not happen so far has finally showed results under the guidance of Modi government.

Now, this is called a tight slap on the face of Modi haters and BJP traitors. The man you called the Chai Wala and the Neech Aadmi has got these heights of credits to India. Now I am sure the Congressmen might have to take the credits for this as well!!

The Centre for Economics and Business Research (CEBR), a London-based consultancy, said this in its annual rankings. India currently being ranked in the 7th position, India will move up to fifth place in 2018 and jump to third spot by 2032 as per the survey. According to the study, India will become the world’s third-largest economy by 2032, which gave the annual growth, inflation and exchange rate forecast for each of the 192 economies over the next 15 years. The forecast said that by 2030, three of the world’s top four economies will be Asian countries- China, India and Japan.

The growth in the Indian economy will also drive the rest of South Asia. Its other South-Asian counterparts like Pakistan will rise from the 41st position in 2017 to 25th in 2032, while Bangladesh will rise from the 43rd position to 31st in 2032.

It was only in 1906 that the UK economy overtook the Indian economy, while the French economy was smaller than the Indian economy until 1951.By 2032, they will be joined in the top 10 by Korea and Indonesia. Taiwan and Thailand will enter the top 20 while the Philippines and Pakistan will feature in the top 25.

Since the impact of US President Donald Trump on trade has been less severe than expected, the report said the United States will retain the number one spot for a year longer, till 2029, than it was anticipated in the 2017 CEBR report. It highlights how construction and infrastructure projects will change the shape of the world by 2032.

Indian infrastructural projects will rebuild the world’s most populous country, which will spend an amount as large as Canada’s GDP on infrastructure. Key projects include the Delhi-Mumbai Industrial Corridor, the Indian Smart Cities Project and more than 80,000 km of new highways.

The Indian economy hit a three-year low in the first quarter of the current financial year, after Prime Minister Narendra Modi’s decision in November 2016 of demonetization in order to curb black money and tax evasion. Growth slumped to “5.7%” for the three months ending June but recovered slightly to “6.3%” for the quarter ending September.

“Despite temporary obstacles, India’s economy has still caught up with that of France and the U.K. and in 2018 will have overtaken them both to become the world’s fifth largest economy in dollar terms,” said CEBR deputy chairman Douglas McWilliams. Cheap energy and a digital India revolution run by PM Modi will drive economic growth globally, it said.

All those Critics analyzing Modiji’s schemes and innovative ideas for the development of the economy must have got their answers now. It’s time they accept him as the PM who’s headed for a new and developed India. Unlike those who hardly “spoke up” for the nation. Let’s be a part of his campaign rather than criticizing him, let’s believe in him rather than humiliating his background.

The world accepts him as “Dynamic PM”, but are Indian secularists and the congressmen stand back in the row, as they are still surviving in the dreamland and do not wish to see the reality. India is being praised its “Acche Din” and you cannot deny that Modiji has got this Acche Din for us Indians.

Source: https://timesofindia.indiatimes.com/business/india-business/india-to-leapfrog-uk-and-france-to-become-fifth-largest-economy-in-2018-report/articleshow/62250484.cms