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India misses fifth-largest economy in the world tag by $13 billion

Experts say it is just a matter of a year before India overtakes the UK

Indian economy, GDP
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ICRA Chief Economist Aditi Nayar said India’s GDP growth was likely to be one of the fastest globally during 2022-23, which should help India overtake the UK imminently.

Indivjal Dhasmana New Delhi
The Indian economy was slightly smaller than the United Kingdom’s (UK’s), which deprived the former the rank of the fifth-largest economy in the world in 2021. Experts say it is just a matter of a year before India overtakes the UK.

It should be noted that the figures for other countries are on a calendar year basis, while those for India are on a fiscal year basis (April-to-March). So, 2021 would mean 2021-22 for India and so on.

If the figures are rounded off, both the economies were placed at $3.2 trillion in 2021. However, to be specific, the UK’s economy was