For The 1st Time In 150 Years, Indian Economy Overtakes The UK Economy. Karma Is REAL!

Once a mere colony of a European power, India has now started to show the world what it is capable of. With growing economy and increasing GDP every year, India is on the right path of becoming one of the major economic powers of the world.

Thanks to Britain’s choice of getting out of the EU and India’s rapid economic growth over the last 25 years, India’s economy has surpassed that of the United Kingdom for the first time in the last 150 years! This implies that India now has the fifth largest GDP in the world.

India was expected to overtake the GDP of the UK in 2020. However, due to a decline of nearly 20% in the value of the British Pound over the last 12 months, the rate of surpassing got accelerated and India achieved the target much sooner. While UK’s GDP now stands at 1.87 trillion Great Britain Pounds (GBP) or $2.29 trillion, India is at ₹153 trillion or $2.30 trillion.

Moreover, this gap in GDP is expected to grow even bigger as India’s GDP is growing at 6%-8% annually while the UK’s GDP is only growing at 1%-2% annually. 

Hence, even if the currencies fluctuate a little and the GDPs of the two nations become roughly equal, India would still be ahead of the UK in terms of future growth prospects.

Kiren Rijiju, the Minister of State for Home Affairs took to Twitter to celebrate this landmark success.

India overtakes UK & becomes 5th largest GDP after USA, China, Japan & Germany. India may have large population base but this is a big leap. pic.twitter.com/ANPUExHEyL

— Kiren Rijiju (@KirenRijiju) December 18, 2016

Although this economic success for India is a monumental achievement, we are still far behind UK when it comes to per capita income, India’s per capita income is about one-fifth of that of UK which shows that there is still a lot of room for improvement for our nation in that field.

News Source: The Times Of India

Cover Image Source: 1, 2