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

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