India Surpasses UK Economy, World's 5th Largest

[Economy 52,906]

https://www.google.ca/amp/s/www.thehindu.com/news/national/india-overtakes-uk-to-become-fifth-largest-economy-in-the-world/article65844906.ece/amp/

 

India Surpassed the UK economy for world's 5th largest with 7% growth with an economy of $3.5 Trillion vs $3.2 Trillion in UK

 

Of course in terms of quality of life and wealth on a per capita terms the UK remains FAR ahead

 

The 10 largest economies in the world now are:

 

1. USA

2. China

3. Japan

4. Germany

5. India

6. UK

7. France

8. Italy 

9. Canada

10. South Korea

[Hecturr 1,937]

Good! 

[Better Day 5,766]

Good, glad Brexit is going sht. Wait till Liz Truss gets her claws into the economy. The G20 will be history for the UK

[PartySick 172,975]

Is the UK lagging? Or is India just improving really fast?

[Better Day 5,766]

Just now, PartySick said:

Is the UK lagging? Or is India just improving really fast?

Brexit is causing havoc within the UK 

[Meat 18,962]

Now imagine if India asks The UK for colonialism reparations 

[Economy 52,906]

34 minutes ago, Miss Dolly said:

Good, glad Brexit is going sht. Wait till Liz Truss gets her claws into the economy. The G20 will be history for the UK

 

32 minutes ago, PartySick said:

Is the UK lagging? Or is India just improving really fast?

 

32 minutes ago, Miss Dolly said:

Brexit is causing havoc within the UK 

I mean at most stagnation only accelerated this outcome by like a year

 

Developed Nations rarely grow above 2% to 3% annually unless it's an immediate bounce back from a recession 

 

India's 7% growth rate which is not uncommon for a developing country and with its large population, it would have surpassed the UK regardless of Brexit or any other questionable decisions

[Better Day 5,766]

3 minutes ago, Economy said:

 

 

I mean at most stagnation only accelerated this outcome by like a year

 

Developed Nations rarely grow above 2% to 3% annually unless it's an immediate bounce back from a recession 

 

India's 7% growth rate which is not uncommon for a developing country and with its large population, it would have surpassed the UK regardless of Brexit or any other questionable decisions

Nah, it’s Brexit. Literally forced out of the Single Market 

[PartySick 172,975]

3 minutes ago, Economy said:

 

 

I mean at most stagnation only accelerated this outcome by like a year

 

Developed Nations rarely grow above 2% to 3% annually unless it's an immediate bounce back from a recession 

 

India's 7% growth rate which is not uncommon for a developing country and with its large population, it would have surpassed the UK regardless of Brexit or any other questionable decisions

Thank you

So it's not that the UK is going to sh*t, it's that India is doing well for herself

[Sugar Baby 1,005]

Yet queen Elizabeth is still the queen of India 

So random lol 

[Ivannn 1,150]

In the next year UK will Be out of top 10. BREXIT is really paying off!!

[Economy 52,906]

7 minutes ago, PartySick said:

Thank you

So it's not that the UK is going to sh*t, it's that India is doing well for herself

I mean the UK from what I'm seeing is going to sh*t also along with half the world but all I'm saying is, if it didn't either way it wouldn't have changed this outcome @Miss Dolly

[Fuffy 1,049]

That's expected given Brexit, Ukraine, the economic reliance on services and the Covid recovery (Covid hit service-based economies the hardest). India will very likely be in the top 3 economies within the next two decades, it could act like a counterweight to China. That said, it has a lot of issues with corruption and the wealth divides are now huge because of the reforms it made. I have heard a few economists say they have doubts about India scaling to parity with the US and China.

I think the UK will naturally be outpaced by developing countries, but it could have a small renaissance once the Tories leave and the global economic crisis cools down. I know it's popular to dislike the UK (believe me, I even emigrated) but on reflection I now actually think it's a good country going through a really rough patch. 

 

[Fuffy 1,049]

11 minutes ago, Sugar Baby said:

Yet queen Elizabeth is still the queen of India 

So random lol 

I don't think she is. I believe that ended when India became independent back after WW2.

India is part of the Commonwealth though, which might be where the confusion came from. 

[Economy 52,906]

10 minutes ago, Gogo Yubari said:

That's expected given Brexit, Ukraine, the economic reliance on services and the Covid recovery (Covid hit service-based economies the hardest). India will very likely be in the top 3 economies within the next two decades, it could act like a counterweight to China. That said, it has a lot of issues with corruption and the wealth divides are now huge because of the reforms it made. I have heard a few economists say they have doubts about India scaling to parity with the US and China.

I think the UK will naturally be outpaced by developing countries, but it could have a small renaissance once the Tories leave and the global economic crisis cools down. I know it's popular to dislike the UK (believe me, I even emigrated) but on reflection I now actually think it's a good country going through a really rough patch. 

 

I think those factors pail in comparison to the fact that India is a heavily populated Country with a solid growth rate as it industrializes

 

The UK could of been doing everything correctly and this would inevitably still happen. Maybe just a year later than now that's all

 

That renessance ur talking about... In a developed country good management will only result in increased growth of a few decimal points per year on average (for example instead of averaging 1.8% growth maybe ull average 2.3% in long term instead). Enough to make a difference in quality of life and opportunity but not really enough to make a difference in global ranking trends