indian economy surpasses uk
Indian economy scored one over its former colonial masters when it reportedly took over United Kingdom’s economy for the first time in 150 years. Earlier, a Forbes report published on December 16 had revealed that India’s Gross Domestic Product (GDP) was set to take over the UK by 2020. But to quote Forbes, the surpass had been majorly accelerated by a nearly 20% decline in pound’s value in the last year or so. Earlier this year, India had taken over China as the world’s fastest growing economy. The International Monetary Fund in October had stated that India was likely to maintain its position for quite a while, with the GDP expected to rise by 7.6% through 2017. Meanwhile, the Brexit is expected to further dampen UK’s economic growth.