Updated World Bank
figures for 2017 show that India
is now the world's sixth-biggest economy, having muscled past France, which was pushed to the seventh spot, news agency AFP reported on Wednesday. India's gross domestic product (GDP) stood at $2.597 trillion at the end of 2017, compared to $2.582 trillion for France.
The US continued to be the world's biggest economy, followed by China, Japan and Germany. Britain remained the world's fifth-biggest economy
with a GDP
of $2.622 trillion at the end of 2017.
Backed by government spending and investment, India's economy
grew at a seven-quarter high of 7.7 per cent
in the January-March quarter of the financial year 2018. But this did not prevent GDP
growth, at 6.7 per cent in 2017-18, from falling to its lowest rate in four years of the Narendra Modi government.
The finance ministry said India's economy
would clock 7.5 per cent growth in 2018-19, the upper range of growth projected by the Economic Survey.
Last year in December, the World Economic League Table (WELT) 2018 released by the Centre for Economics and Business Research forecast that India would "leapfrog" Britain and France
to become the world's fifth largest economy
in 2018, ahead of an oncoming major global economic shift towards Asia.