India has leaped past the United Kingdom to become the fifth-largest economy in the world. International Monetary Fund said, India took a lead in the final three months of 2021 to become the fifth-biggest economy. According to GDP figures from IMF, India extended its lead in the first quarter. IMF said, the Indian economy is forecast to grow more than 7 per cent this year. A world-beating rebound in Indian stocks this quarter has just seen their weighting rise to the second spot in the MSCI Emerging Markets Index, trailing only China’s.
Britain has dropped behind India to become the world’s sixth largest economy, delivering a further blow to the government in London as it grapples with a brutal cost-of-living shock.