India has jumped to the world’s sixth largest economy according to figures from the World Bank.
India’s GDP was $2.597 trillion as the economy rebounded from the slowdown caused by demonetisation and tax changes.
India is also poised to become the world’s most populous nation with 1.34 billion people – and still growing fast as one of the youngest nations.
This population is part of the reason for economic success – the so-called “demographic dividend” of a young population is paying off with local consumer demand being the major driver and India has been able to find the skilled workforce for a growing manufacturing sector.
This is a huge achievement with India more than doubling its GDP in less than a decade.
The experts believe India will soon overtake the fifth biggest economy, Britain, as the rise to the top continues.