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<ul><li><keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> is set to overtake the UK in 2019 in the rankings of the world’s largest economies. </li><li>The India economy may witness a growth of 7.6% in 2019 whereas the UK economy will only see a growth of 1.6% if it deals with the no-deal <keyword id="6355333" type="UNKNOWN" weightage="20" keywordseo="Brexit">Brexit</keyword>, according to a prediction by PwC. </li><li>India is going to move from the seventh position to the fifth position while the UK is going to slip in the list of global economic leaders, expected PwC. </li></ul>India is on track to surpass the UK in the rankings of world’s largest economies, amid Britain’s potential exit from the <keyword id="6355110" type="LOCATION" weightage="20" keywordseo="european-union">European Union</keyword>, according to<a href="https://www.dailymail.co.uk/news/article-6510139/UK-economy-slip-7th-biggest-world-2019-PwC.html"> a recent prediction </a>by Pricewater house Coopers (PwC). "India is the fastest growing large economy in the world, with an enormous population, favourable demographics and high catch-up potential due to low initial GDP per head. It is therefore all but certain to continue to rise in the global GDP league table in the coming decades." According to PwC, the global economy is expected to slow in 2019 as G7 countries return to long-run average growth rates, "The global economy enjoyed a mini-boom between the end of 2016 and early 2018, when growth picked up in most major economies. This phase is now over, and in 2019 we expect the G7 economies to return to growth rates close to their long-run averages," the report said. India is likely to witness an economic growth of 7.6 percent in 2019 whereas UK will settle at 1.6 percent if the country manages to deal with the no-deal Brexit in March. Moreover, India is also going to move up from seventh to the fifth position in the coming years, reported Reuters<a href="https://uk.reuters.com/article/uk-britain-economy-rank-idUKKBN1OI00L"> citing</a> the PwC projections on global economic trends. On the flip side, the UK, which was estimated to be the fifth largest economy in the world in 2018 by the IMF will move down to seventh place in the rankings, behind India and France. The prediction warns about the challenges that Britain is going to face once it steps out of the European Union. However, the government of the UK has assured that it will be a global leader once the make an exit from EU. (With IANS inputs) See also: <a href="https://www.businessinsider.in/the-indian-rupee-just-clocked-its-highest-one-day-gain-since-2013-as-global-oil-prices-plummeted-to-a-yearly-low/articleshow/67158268.cms">The Indian rupee just clocked its highest one-day gain since 2013 as global oil prices plummeted to a yearly low</a> <a href="https://www.businessinsider.in/sri-lankas-parliament-reassembles-with-the-same-prime-minister-but-the-political-crisis-might-not-be-over-just-yet/articleshow/67160971.cms">Sri Lanka’s Parliament reassembles with the same Prime Minister but the political crisis might not be over just yet</a> <a href="https://www.businessinsider.in/latest/from-indian-prime-minister-narendra-modi-to-his-rival-rahul-gandhi-a-look-at-the-top-10-indian-twitter-accounts-that-made-2018-interesting/articleshow/67171978.cms">From Indian Prime Minister Narendra Modi to his rival Rahul Gandhi — A look at the top 10 Indian Twitter accounts that made 2018 interesting</a>

India may become the world's fifth largest economy in 2019: Report

A report from mobile-app analytics company <keyword id="1646890" type="COMPANY" weightage="100" keywordseo="App-Annie">App Annie</keyword> has placed India at the fourth rank when it comes to largest <keyword id="3475737" type="UNKNOWN" weightage="100" keywordseo="app-economies">app economies</keyword>, while adding that Indians have also rapidly increased the amount of time spent on apps. 
 
When it comes to the number of total app downloads per year, India is behind only China, US, and Brazil, with the number set to grow by 92% and reach 7.7 billion downloads by the end of this year. This number would further reach 20.1 billion by 2020. 
 
In comparison, China, which is ahead of India, has a slower growth rate expected this year; however, the absolute figure would still be more than six times more than that of India. 
 
"With the introduction of affordable smartphones and better infrastructure supporting mobile, and given India's population, the growth here is expected to be significant," Junde Yu, MD of App Annie APAC, told <a href="http://economictimes.indiatimes.com/tech/software/india-is-worlds-fourth-largest-app-economy-report/articleshow/53092793.cms">TNN</a>. He added that the most important thing driving the app economy as of now is not the number of downloads or the revenue; rather, it is the amount of time users spend on these apps. 
 
The amount of time spent by Indians on apps in the first quarter of 2016 grew more than twice when compared from the first quarter of 2014. While retail apps saw the time spent growing by 11.5 times during the same period, video-streaming apps saw it growing 7.4 times. 
 
<a href="http://www.focusteck.com/wp-content/uploads/2016/04/secret-of-mobile-apps.jpg">Image source</a>

India becomes world's fourth-largest app economy, says report

In 2024, the <keyword id="7952869" type="General" weightage="20" keywordseo="largest-economies-in-the-world" source="Orion">largest economies in the world</keyword> are the United States, China, Germany, Japan, and India, based on their GDP. GDP, or Gross Domestic Product, is an important measure of how big a country's economy is. One common way to calculate GDP is by adding up all the money spent on new consumer goods, new investments, government spending, and the value of exports minus imports. This article will look at the <keyword id="22151442" type="General" weightage="20" keywordseo="ten-biggest-economies" source="Orion">ten biggest economies</keyword> in the world in 2024, according to <a href="https://www.forbesindia.com" data-type="tilCustomLink" target="_blank">Forbes</a>, based on their GDP. <cmsannotation type="cmsannotation" annotationid="World's largest economies by GDP" comment="subhead" text="World's largest economies by GDP">World's <keyword id="8471222" type="General" weightage="20" keywordseo="largest-economies-by-GDP" source="Orion">largest economies by GDP</keyword></cmsannotation> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">Rank </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">Country </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">GDP (USD billion) </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">GDP Per Capita (USD thousand) </td></tr><tr><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">1 </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">United States Of America (U.S.A) </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">28,783 </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">85.37 </td></tr><tr><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">2 </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">China </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">18,536 </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">13.14 </td></tr><tr><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">3 </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">Germany </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">4,590 </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">54.29 </td></tr><tr><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">4 </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">Japan </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">4,112 </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">33.14 </td></tr><tr><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">5 </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">India </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">3,942 </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">2.73 </td></tr><tr><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">6 </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">United Kingdom (U.K.) </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">3,502 </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">51.07 </td></tr><tr><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">7 </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">France </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">3,132 </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">47.36 </td></tr><tr><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">8 </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">Brazil </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">2,333 </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">11.35 </td></tr><tr><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">9 </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">Italy </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">2,332 </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">39.58 </td></tr><tr><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">10 </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">Canada </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">2,242 </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;background-color:#ffffff;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">54.87 </td></tr></tbody></table> <cmsannotation type="cmsannotation" annotationid="1. United States of America (U.S.A.)" comment="subhead" text="1. United States of America (U.S.A.)">1. United States of America (U.S.A.)</cmsannotation> The United States has been the world's largest and richest economy since 1960. Its economy is very diverse, with important sectors like services, manufacturing, finance, and technology driving its growth. The country benefits from a large consumer market, encourages innovation and entrepreneurship, has a strong infrastructure, and offers good business conditions. <cmsannotation type="cmsannotation" annotationid="2. China" comment="subhead" text="2. China">2. China</cmsannotation> China's economy has grown significantly, rising from fourth place in 1960 to second place today. Its economy mainly relies on manufacturing, exports, and investment. China benefits from a large workforce, strong government support, improved infrastructure, and a rapidly growing consumer market. <cmsannotation type="cmsannotation" annotationid="3. Germany" comment="subhead" text="3. Germany">3. Germany</cmsannotation> Germany's economy is heavily based on exports and is famous for its expertise in engineering, automotive, chemical, and pharmaceutical industries. It benefits from a skilled workforce, strong research and development, and a strong focus on innovation. <cmsannotation type="cmsannotation" annotationid="4. Japan" comment="subhead" text="4. Japan">4. Japan</cmsannotation> Japan's economy is known for its advanced technology, strong manufacturing, and service industries. Key sectors include automotive, electronics, machinery, and finance. Japan is also recognised for its strong work ethic, innovative technology, and high-quality exports. <cmsannotation type="cmsannotation" annotationid="5. India" comment="subhead" text="5. India">5. India</cmsannotation> India is the 5th largest economy in the world in 2024. Its economy is diverse and growing quickly, driven by key sectors like information technology, services, agriculture, and manufacturing. India benefits from a large domestic market, a young and tech-savvy workforce, and a growing middle class. <cmsannotation type="cmsannotation" annotationid="6. United Kingdom (U.K.)" comment="subhead" text="6. United Kingdom (U.K.)">6. United Kingdom (U.K.)</cmsannotation> The United Kingdom's economy includes a mix of services, manufacturing, finance, and creative industries. London is a global financial centre that attracts foreign investments. Trade partnerships and globalisation also contribute to the UK's economic growth. <cmsannotation type="cmsannotation" annotationid="7. France" comment="subhead" text="7. France">7. France</cmsannotation> France's economy is diverse, focusing on industries like aerospace, tourism, luxury goods, and agriculture. France is known for its strong social welfare system, good infrastructure, and significant investment in research and development. <cmsannotation type="cmsannotation" annotationid="8. Italy" comment="subhead" text="8. Italy">8. Italy</cmsannotation> Italy has a well-developed economy and is the third-largest in the European Union. The country is known for its strong and innovative business sector, as well as its competitive and hardworking agricultural industry. <cmsannotation type="cmsannotation" annotationid="9. Brazil" comment="subhead" text="9. Brazil">9. Brazil</cmsannotation> Brazil's economy includes many sectors like agriculture, mining, manufacturing, and services. It's well-known globally for its agriculture, which means growing and selling crops and exporting them. The economy grows because of things like how much things cost, how much people in the country buy, and how well they build roads and buildings. <cmsannotation type="cmsannotation" annotationid="10. Canada" comment="subhead" text="10. Canada">10. Canada</cmsannotation> Canada's economy depends a lot on its plentiful natural resources like oil, gas, minerals, and timber. It also has a strong services sector, which means businesses that provide services rather than goods, a well-developed manufacturing industry, and a strong commitment to encouraging new ideas and improvements in technology. SEE ALSO: <a href="https://www.businessinsider.in/thelife/personalities/article/top-10-most-richest-women-in-the-world/articleshow/110941545.cms" data-type="tilCustomLink" target="_blank">Top 10 richest women in the world in 2024</a>

Top 10 largest economies in the world in 2024

<keyword id="6357247" type="PERSON" weightage="60" keywordseo="Internet">Internet</keyword> penetration in <keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword> has been zooming, especially in the <keyword id="6355624" type="CITY" weightage="60" keywordseo="Rural">rural</keyword> sector, where people are accessing the <keyword id="55618" type="UNKNOWN" weightage="60" keywordseo="World-Wide-Web">World Wide Web</keyword> on their smartphones and smart devices. In a report submitted by <keyword id="149966" type="COMPANY" weightage="60" keywordseo="IAMAI">IAMAI</keyword>, the <keyword id="68600" type="UNKNOWN" weightage="60" keywordseo="numbers">numbers</keyword> show that in October 2013, India had over 205 million Internet users. This is a year-on-year growth of 40% over 2012. The numbers are slated to grow further to 213 million by December 2013. 
 By June 2014, the Indian Internet population will cross 243 million users and will displace <keyword id="6355055" type="COUNTRY" weightage="40" keywordseo="USA">USA</keyword> to number 3. Only china will be ahead of India who currently hold over 300 million Internet users, while USA currently has over 207 million as their Internet population. 
 The <keyword id="6381428" type="ORGANIZATION" weightage="60" keywordseo="Urban">urban</keyword> Internet population in India in October was at 137 million users, while the ones in the rural area are at 68 million. The numbers are set to grow rapidly as more and more smart devices are sold all across the nation. 3G penetrations has also grown over the last 2 years in India, which again is enabling users to access the web using 3G data cards and also 3G SIM cards. 
 50% of the urban Internet population accesses the Internet on a daily basis. And the report states that the frequent users are not limited just to the youth or men of the country, lot of non-working <keyword id="624" type="ORGANIZATION" weightage="40" keywordseo="Women">women</keyword> and elderly men are also browsing the net on a daily basis. In rural India 70% of the active Internet users also access the web using a mobile phone, while 32% only use the mobile phone to go on the web. Cyber café’s is where 40% of rural users go to access the web. 
 
This is good news for the telecom industry and allied sector. As the numbers seem to be growing quickly, it will turn into larger revenues for the service and equipment providers. Now, only if 3G was perfect in the country, we would have had faster Internet adoption rate.

India To Become World’s Second Largest Internet Population
By Mid 2014

NEW DELHI: India has displaced <keyword id="6355311" type="COUNTRY" weightage="60" keywordseo="Japan">Japan</keyword> to become the world’s third biggest <keyword id="34412" type="ORGANIZATION" weightage="40" keywordseo="economy">economy</keyword> in terms of purchasing power parity (PPP), according to a <keyword id="6354424" type="ORGANIZATION" weightage="40" keywordseo="World-Bank">World Bank</keyword> report released on Tuesday. 
 
The 2011 round of the bank’s International Comparison Program (ICP) ranked India after the US and China. The last survey in 2005 had placed the country on 10th place. 
 
PPP is used to compare economies and incomes of people by adjusting for differences in prices in different countries to make a meaningful comparison. India’s share in <keyword id="524625" type="UNKNOWN" weightage="40" keywordseo="world-GDP">World GDP</keyword> in terms of PPP was 6.4% in 2011 compared with China’s 14.9% and the US’ 17.1%, the latest ICP showed. The survey covered 199 economies. 
“The United States remained the world’s largest economy, but it was closely followed by China when measured using PPPs. India was now the world’s third largest economy, moving ahead of Japan,” the report said. 
 Despite high inflation in India in recent years, prices in the country are still well below those in advanced economies, explaining the higher raking for India on the PPP measure. But according to the <keyword id="6366068" type="ORGANIZATION" weightage="40" keywordseo="INTERNATIONAL-MONETARY-FUND">International Monetary Fund</keyword> (IMF), India’s economy is 12th largest and only about a third of Japan’s in terms of absolute unadjusted dollars. “The economies with the lowest prices are either in Africa or Asia and the Pacific and include India, which has the third-largest economy,” the report noted. 
 “Because economies estimate their <keyword id="35050" type="CITY" weightage="40" keywordseo="gdp">GDP</keyword> at national price levels and in national currencies, those GDPs are not comparable. To be compared, they must be valued at a common price level and expressed in a common currency,” the report said, giving out the rationale for the PPP adjustments. 
 
 
 
For example, people in a country with higher average per capita income may not necessarily have a better quality life than a country with lower average per capita income. 
 
This makes it a good tool to compare poverty levels across countries. 
 
“One major use of PPPs is poverty assessment using the World Bank’s international poverty threshold of $1.25 per day per person. National poverty assessments differ because the purchasing power of national currencies differs from one economy to another,” the report said. 
In terms of per capita GDP, even in PPP terms, India ranks very low at 127 in the 199-country ranking. 
 
“The largest economies were not the richest, as shown in the ranking of GDP per capita. The middle-in­come economies with large economies also had large populations, setting the stage for continued growth,” the report noted. 
 
In the latest ranking, India’s economy was 37.1% of the US economy compared with 18.9% in 2005. 
The report said in terms of spending power, the differences have come down. 
 
“The spread of per capita actual individual consumption as a percentage of that of the United States has been greatly reduced, suggesting that the world has become more equal,” it said but cautioned some of this could be due to changes in the methodology.

India Displaces Japan To Become Third-Largest World Economy In Terms Of PPP: World Bank

<ul><li>India stood seventh in the rankings of the world's largest economies. </li><li>India’s GDP grew from $2.65 trillion in 2017 to $2.72 trillion in 2018. </li><li>However, it is a setback for the economy as it ranked sixth in 2017. </li></ul>India has slipped a rank in terms of gross domestic produce (GDP) to become the seventh largest economy in the world, as per <a href="https://databank.worldbank.org/data/download/GDP.pdf">World Bank data</a>. India's Gross Domestic Product stood at $2.72 trillion. However, the growth in the UK and <keyword id="6354785" type="LOCATION" weightage="20" keywordseo="france">France</keyword> pulled India back at the seventh spot. The United States topped <a href="https://databank.worldbank.org/data/download/GDP.pdf">the list</a> of the world's largest economies with $20.5 trillion GDP. The next three places went to China at $13.6 trillion, Japan at $4.9 trillion and Germany at $3.9 trillion. In 2017, India was the sixth-largest economy in the world. <a href="https://www.businessinsider.in/india-to-overtake-the-uk-in-the-rankings-of-the-worlds-largest-economies-thanks-to-brexit/articleshow/67188514.cms">It had then overtaken the</a> UK and France for a brief period. UK's GDP was $2.64 trillion whereas India's GDP stood was at $2.65 trillion, <a href="https://www.business-standard.com/article/economy-policy/at-2-73-trn-india-s-economy-pushed-to-7th-spot-uk-france-march-ahead-119073101851_1.html">said Business Standard</a>. $5 trillion economy This recent development might not come as good news for the government which is looking at high growth. Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> <a href="https://www.businessinsider.in/india-to-overtake-the-uk-in-the-rankings-of-the-worlds-largest-economies-thanks-to-brexit/articleshow/67188514.cms">has set a target to double India's economic growth to $5trillion </a>by 2024. He wants India to become the world's second-largest economy by 2030. Earlier this year, <a href="https://scroll.in/latest/932582/india-drops-to-seventh-largest-economy-in-the-world-shows-world-bank-data">China also overtook </a>India to become the world's fastest-growing economy after India reported a decline in GDP to 5.8% in the last quarter of FY 2018-19.

India slips in World Bank ranking as it dreams of turning into a $5 trillion economy

<ul><li>India is expected to overtake Germany to become fourth-largest economy in 2026. </li><li> It further said India is also set to reach a gross domestic product (GDP) of USD 5 trillion by 2026, 2 years later than the government's target. </li><li>Japan to become third largest in 2034.</li></ul>India is expected to overtake Germany to become fourth-largest economy in 2026 and Japan to become third largest in 2034, according a recent report by the UK-based Centre for Economics and Business Research (CEBR).
 It further said India is also set to reach a gross domestic product (GDP) of USD 5 trillion by 2026, 2 years later than the government's target.
 "India has decisively overtaken both France and the UK to become the world's fifth-largest economy in 2019. It is expected to overtake Germany to become fourth largest in 2026 and Japan to become the third largest in 2034," the report, titled 'World Economic League Table 2020', said.
 Japan, Germany and India will battle for third position over the next 15 years, according to the CEBR.
 Referring to Prime Minister Narendra Modi-led government's target of taking the economy to 5 USD trillion by 2024, it said, "India is also set to reach a GDP of USD 5 trillion by 2026 - 2 years later than the current government target."
 But, dark clouds gathering all over the economy are leading many to question the maintainability of the target.
 Recently, former Reserve Bank governor C Rangarajan, said that at the current growth rate, reaching the USD 5-trillion GDP target by 2024-25 is "simply out of question".
 Noting that Indian data revisions mean that 2019 was the year when the country's economy finally overtook the UK and France, the report said, "But, slow growth during the year has increased pressure for more radical economic reforms."
 Despite the rapid ascent of countries such as India and Indonesia, it is striking how little an impact this will have on the US and China's dominant roles in the global economy, said Pablo Shah, senior economist at Cebr.
 India, which till recently was hailed as the world's fastest-growing major economy, has seen growth rate decline to a six-year low of 4.5 per cent in the September quarter of 2019-20.
 This has largely been attributed to the slowdown in investment that has now broadened into consumption, driven by financial stress among rural households and weak job creation.
 The World Economic League Table is an annual calculation by Cebr jointly published by Cebr and Global Construction Perspectives. The base data for 2019 is taken from the IMF World Economic Outlook. BKS HRS

India might overtake Germany to become world's fourth largest economy, predicts CEBR

<ul class="summary-list"><li>India's economy is on track to surpass the US and become the world's second-largest by 2075, Goldman Sachs forecasts. </li><li>Key drivers of the South Asian nation's growth include its technological advances and a large population. </li></ul>India's economy is on track to surpass the US by 2075 to become the world's second-largest after China, <a href="https://www.goldmansachs.com/intelligence/pages/how-india-could-rise-to-the-worlds-second-biggest-economy.html" target="_blank" rel="noopener">according to Goldman Sachs</a>.The Wall Street bank projects the South Asian nation's GDP surging to $52.5 trillion by then, compared with forecasts of $57 trillion and $51.5 trillion for China and the US, respectively. India's growth will be powered mainly by its large labor force, advances in technology and rising capital investment, the bank said in a note.At present, India is ranked the fifth-biggest economy in the world with a GDP of $3.74 billion and a per capita income of $2,600, <a href="https://www.imf.org/external/datamapper/NGDPD@WEO/IND/GBR" target="_blank" rel="noopener">according to the International Monetary Fund</a>. High-profile market experts like <a href="https://markets.businessinsider.com/news/stocks/ray-dalio-india-billionaire-investor-narendra-modi-elon-musk-tesla-2023-6" target="_blank" rel="noopener">Ray Dalio</a> and <a href="https://www.businessinsider.com/mark-mobius-bullish-india-korea-china-legendary-emerging-markets-investor-2023-6">Mark Mobius</a> have hailed the Asian nation as the next biggest investing opportunity. Even major companies including Apple, Tesla and SpaceX have leaned into the emerging economy as a hub for its supply chains instead of China.<h2>'Innovation and technology'</h2>"India has made more progress in innovation and technology than some may realize," Santanu Sengupta, Goldman Sachs's chief India economist, said. "Innovation and increasing worker productivity are going to be important for the world's fifth-biggest economy. In technical terms, that means greater output for each unit of labor and capital in India's economy," he added.But India also <a href="https://www.businessinsider.com/india-business-market-entry-barriers-tariffs-supply-chain-china-2023-6?r=US&amp;IR=T" target="_blank" rel="noopener">faces hurdles</a> in its journey toward economic superpower status. These include hefty import taxes, bureaucracy and red tape, and the dominance of domestic business tycoons – which make it harder for foreign companies to snap up any market share in key industries. <h2>Capital investments </h2>According to Goldman's Sengupta, capital investment, which refers to money invested in a business for its long-term growth, is going to be a key engineer of India's growth moving forward. "Driven by favorable demographics, India's savings rate is likely to increase with falling dependency ratios, rising incomes, and deeper financial sector development, which is likely to make the pool of capital available to drive further investment," he said. India's Prime Minister Narendra Modi has been a cheerleader for capital expenditure, recently urging the nation's private sector to boost investment and take advantage of the nation's 2023-24 budget, <a href="https://www.thehindu.com/news/national/pm-modi-asks-india-inc-to-step-up-investment/article66590176.ece" target="_blank" rel="noopener">per the Hindu newspaper</a>. <h2>Ballooning population </h2>Lastly, India has the opportunity to turbocharge its GDP by integrating its growing population into the labor force. The South Asian nation recently <a href="https://www.un.org/development/desa/dpad/publication/un-desa-policy-brief-no-153-india-overtakes-china-as-the-worlds-most-populous-country/" target="_blank" rel="noopener">overtook China</a> to become the world's most populous, with 1.4 billion people. "India's large population is clearly an opportunity, however the challenge is productively using the labor force, by increasing the labor force participation rate. That will mean creating the opportunities for this labor force to get absorbed and simultaneously training and upskilling the labor force," Sengupta said.

India's economy will surpass the US in size by 2075, thanks to its tech scene and growing population, Goldman Sachs says

India is expected to overtake the US as the second-largest <keyword id="390059" type="UNKNOWN" weightage="20" keywordseo="smartphone-market">smartphone market</keyword> next year with robust annual growth, says a Morgan Stanley research report. According to the report on global technology and telecom, the country's <keyword id="28168" type="TECHNOLOGY" weightage="20" keywordseo="Smartphone">smartphone</keyword> market will grow at a compounded annual growth rate (CAGR) of 23 per cent through 2018 and would account for 30 per cent of the global growth during the period. 

	"We expect India to overtake the US next year as the second-largest smartphone market by units. India will grow nearly five times faster than the world's largest smartphone market China, where growth has decelerated," the report said.
 

	It added, "We estimate a 23 per cent CAGR in units in India, compared with 5 per cent over the same period in China. By 2018, we estimate 192 million smartphones will be shipped to India, or 11 per cent of global units."
 

	Morgan Stanley said there are only 225 million smartphone subscribers in the country, accounting for 18 per cent of the total population.
 

	"The improvement in demographics, as measured by declining age dependency, has been one of the most important factors supporting higher potential growth in India... We expect consumption to maintain a relatively high growth rate, driven by an increase in per-capita income growth and an emerging middle class," it noted.
 

	On consumption of data, the report said the country is on the cusp of significant growth in data traffic driven by rising data users as well as growing data usage per user.
 

	"We expect India's internet penetration to reach 50 per cent by 2018, up from 26 per cent last year, driven by rising smartphone availability and affordability, online content and changing user behavior," it said.
 The global consultancy estimates <keyword id="1948108" type="UNKNOWN" weightage="20" keywordseo="4G-smartphones">4G smartphones</keyword> will account for 75 per cent of 170 million shipments by the next year, which currently has less than 1 per cent subscriber penetration in the country. The report, which is based on 2,600 <keyword id="3334600" type="UNKNOWN" weightage="20" keywordseo="urban-smartphone-buyers">urban smartphone buyers</keyword>, said the respondents paid an average of Rs 8,500 for their smartphones and plan to spend 40 per cent more on their next phone.

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