India is World's Fifth Largest Economy, Overtakes UK

India has taken the world by storm, yet again, by becoming the fifth largest economy in the world, surpassing the UK. According to the reports by Bloomberg, India is now ranked as the fifth biggest economy, pushing the United Kingdom to the sixth spot which has severely affected the government of London.

India is now right behind the United States, China, Japan, and, Germany in terms of economy. If we take a look back at the Indian economy a decade ago, it was ranked 11^th while it now stands strong at 5^th, while the UK was firm at Number 5.

According to the reports, it is forecasted that the Indian economy will grow more than 7% this year. On the other hand, the UK is struggling with high energy prices and rising consumer inflation.

Taking to Twitter, many dignitaries shared their thoughts about this. Some of the tweets are mentioned below. 

Reacting to this, Mahindra Group Chairman Anand Mahindra tweeted, “The law of Karma works. News that would have filled the hearts of every Indian that fought hard & sacrificed much for freedom. And a silent but strong reply to those who thought India would descend into chaos. A time for silent reflection, gratitude."

Piyush Goyal, Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles, Govt. of India, also took to twitter to share this news.

Harsha Bhogle also shared his views about this and tweeted, “Bloomberg says the Indian economy is now larger than that of the UK. I know we are a bigger country with more people but to get here after the brutality and plunder of colonisation, is something to be proud of. Many factors but I believe prioritization of education is the biggest.”

Uday Kotak, CEO of Kotak Mahindra Bank, tweeted, “Proud moment for India to pip UK, our colonial ruler, as the 5th largest economy: India $3.5trn vs UK $3.2trn. But a reality check of population denominator: India: 1.4 bn vs UK.068 bn.Hence,per capita GDP we at $2,500 vs $47,000. We have miles to go…Let’s be at it!”

Dr. Mansukh Mandaviya, Minister of Health and Family Welfare; Chemicals and Fertilizers, also took to twitter to write about this and said, “India under PM @NarendraModi Ji's dynamic leadership surpasses the UK to become world’s 5th biggest economy. With the mantra of reform, perform & transform, New India is writing new pages of success & marching rapidly towards becoming an economic superpower.”