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India overtakes U.K. to become fifth largest economy in the world

Published on September 04, 2022
Current Context: India has become the world’s fifth-largest economy after overtaking the UK.
India overtakes U.K. to become fifth largest economy in the world
  • According to the Bloomberg report, India surpassed the UK to become the 5th largest economy in the world.
  • The IMF database and historic exchange rates were taken by Bloomberg as the basis for calculation.
  • India now remains just behind the US, China, Japan, and Germany.
  • According to the report, the Indian economy in 'nominal' cash terms in Q4 FY22 was $854.7 billion. On the same basis, the U.K. was $816 billion.
  • GDP is the value of final goods and services produced within a nation in a specified period. It counts all of the output generated within the boundary of a country.
  • GNP is the value of goods and services produced by the residents of a nation in a given period.
  • Example: If an Indian-owned company has a business in the US, the output of this factory would be included in U.S. GDP, but in Indian GNP.


Q.1 India has surpassed which country to become the 5th largest economy?
a. UK
b. Germany
c. Japan
d. China
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