07/12/2018, 11.12
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India overtakes France to become world’s sixth largest economy

The data issued by World Bank. In 2017, India's gross domestic product reached 2,597 billion dollars, while France’s stopped at 2,582 billion. The country has reacted well to the negative repercussions of the rupee ban. In 2018, economic growth will be 7.4%.

New Delhi (AsiaNews / Agencies) - India has bypassed France to become the sixth economic power in the world, says the World Bank report (Wb) based on economic results for 2017. In this way, the international body confirms the growth trend in recent years, which sees the most populous country of the Asian subcontinent to contend with the first places in the ranking of the best world economies.

According to the WB study, last year the gross domestic product (GDP) of India reached 2,597 billion dollars, while that of Paris stopped at 2,582 billion. The leading sectors of growth are manufacturing and consumer spending, in a country that has about 1.34 billion people.

Experts predict that soon Delhi could exceed London with its 2.622 billion GDP. Analysts point out that in 2017 India managed to successfully overcome the negative repercussions of two disputed economic policies approved by the Narendra Modi government: "demonetization", that is the ban on 500 and 1000 rupee banknotes; and the single taxation on goods and services ("Good and service tax") which in some States has increased the price of goods.

T the International Monetary Fund (IMF) forecasts for this year a growth of the Indian economy of around 7.4%, while in 2019 it should reach even 7.9 percentage points. These are record numbers, considering that average global growth should reach 3.9%.

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