India slips to 7th largest economy in 2018

According to the World Bank, India has been pushed to the 7th place in the global GDP rankings in 2018. In 2017, India had emerged as the 6th largest economy.

The US remains the top economy with a GDP of $20.5 trillion in 2018. China was the 2nd largest economy with $13.6 trillion, while Japan took the 3rd place with $5 trillion. India’s GDP was at $2.7 trillion in 2018, while UK and France were at $2.8 trillion.

India still remains the fastest-growing major economy in the world.

Static/Current Takeaways Important For EPFO/LIC ADO Mains:

  • President of World Bank: David Malpass;  Headquarters: Washington DC, USA; Established: 1944.

Source: The Economic Times

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