India all set to become World’s 5th largest economy in 2019, says Union Finance Minister

India is not just a spectator but a competitor in today’s world. The country is rated highly in the world economic forum and it is poised to become the world’s fifth largest economy in 2019 according to the Union Minister Arun Jaitley.

According to him, India has comprehensively outsmarted France in terms of size this year and their motive is to surpass Britain. He believes that India is destined to make giant strides and become the fifth largest economy in the world.

Union Minister Arun Jaitley (Source: The Hindu via File/ Photo Credit: V.V. Krishnan)

“This year, in terms of size, we have overtaken France. Next year we are likely to overtake Britain. Therefore, we will be the fifth largest [economy],” he said in the national capital in New Delhi.

The Union Minister added saying that the other economies in the world were going up at a much lesser pace when compared to India that had all the ingredients to be among the top 3 economies of the world in the next one or two decades.

In an interview with The Hindu in July last before Prime Minister Narendra Modi’s visit to the U.K., Jules Chappell, Order of the British Empire (OBE), managing director, business at London & Partners, the Mayor of London’s economic development agency, stressed the fact that the Indian economy was growing at much quicker pace and Britain was making lots of efforts to build closer relations with India in practical ways.

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