Thursday 22 December 2016

India surpasses United kingdom to become 5th largest economy…


Owing to Britain’s  recent Brexit-related problems which are created in June 2016 and thanks to India’s rapid economic growth India has managed to overtake its erstwhile colonial master United Kingdom in terms of the size of economy The first time after nearly 150 years.The dramatic shift has been driven by India’s rapid growth over the past 30 years as well as downside of the values of pound over the last 12 months a report published by a top magazine.
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Once expected to overtake the UK’s GDP in 2020 The surpass has been accelerated by the 19 percent decline in the value of pound over the last 12 months, consequently UK’s 2016 GDP of GBP $1.87 trillion converts to $2.29 trillion at the exchange rate of GBP $0.81 per $1 INR where  as Indian GDP convert into 153 INR trillion into 2.30 trillion to exchange rate because of $ is valued at 66.6 INR, due to these reason. According to report of a well known magazine of USA – “Indian economy surpasses UK’s economy”.
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