India overcomes France and Britain, becomes 5th largest economy in the world

Ever since PM Narendra Modi took charge at the head of the Bharatiya Janata Party (BJP) in 2014, India’s economy hasn’t faced deflation in this century. It has only got better at around 7% per year. It is highly expected that India’s economy will be one-third bigger than when Modi took charge at the office. That means that there will be a huge change in the world’s largest democracy.

India has carved out a reputation for itself as a growing nation as it has now outsmarted France ($2.57 trillion) and the U.K. ($2.62 trillion) to become the world’s fifth-largest economy ($2.84 trillion). According to some economists calculation, India’s gross domestic product climbed ladders to the top five last quarter as it continued to surpass every country in Europe.

Credits: The Logical Indian

Ram Madhav, general secretary of Mr. Modi’s Bharatiya Janata Party at a conference told that India is no more a spectator. According to him, India doesn’t want to be just a participant but a country with great recognition and power to outgrow every single country. “India can’t be a spectator. India doesn’t want to be just a participant,” said Ram Madhav.

Since taking office in 2015, Mr. Modi has been trying to change the atmosphere around India. He wants India to be seen as the next China in terms of economic opportunities as well as the mainstay of democracy. As India’s economy accelerates to good effect and PM Modi has been seeking a distinguished position for the nation in institutions that rule the world.

To remember the fact that India started the decade behind the nations like UK, France, Italy and Brazil. A decade ago, India’s GDP was half of France’s. But ever since PM Modi was at the helm of things, he turned the pages of India as the nation took the centre stage by outsmarting the opponents in the competition. Now the nation is trailing by the first placed United States, second-placed China, third-placed Japan and fourth-placed Germany.

It is nice to see that India is making its place in the world. PM Modi had pushed through tough economic reforms like demonetisation (rapid removal from circulation of high denomination banknotes) and GST harmonization (the start of a unified national goods and services tax) for the welfare of country’s growth.

In the last three to four years, the vision of India has been changed and the world’s perception towards India is also changing. It’s because of the fact that India is attaining a meteoric rise and its progress is well documented.

Hailing from Chennai, Chaithanya G is the Managing Director of TheYouth. He has dedicated his whole life to reading and writing.