On account of Britain’s recent Brexit-related problems and India’s rapid economic growth over the last 25 years, India has managed to surpass United Kingdom’s Economy. It was expected that India would take UK’s GDP in 2020, however the Surpasso has taken place four years earlier than expected, owing to decline in the value of the pound over the last 12 months, accelerated by the nearly 20%.
“Furthermore, this gap is expected to widen as India grows at 6 to 8 percent p.a. compared to UK’s growth of 1 to 2 percent p.a. until 2020, and likely beyond. Even if the currencies fluctuate that modify these figures to rough equality, the verdict is clear that India’s economy has surpassed that of the UK based on future growth prospects,” said the report published in Forbes Magazine.
India overtaking colonizer’s GDP marks an important landmark in India’s history. “India overtakes UK & becomes 5th largest GDP after USA, China, Japan & Germany,” said Union Minister of State for Home Affairs Kiren Rijiju.