India Overtakes United Kingdom To Become Fifth Largest Global Economy

India leapt past the UK in the last quarter of 2021 to become the fifth largest economy in the world.

Under the grip of a brutal cost-of-living crisis, the UK slipping to the sixth position in the rankings has jolted the government in London.

The ongoing crisis and the economic decline in the international rankings would provide a rough start for the upcoming British prime minister.

With the resignation of Boris Johnson, the Conservative Party will choose between Liz Truss and Rishi Sunak as the next British prime minister.

The new prime minister will take charge of the UK facing the fastest inflation rate in four decades with risks of a recession looming around that can go till 2024 according to the Bank of England.

On the other hand, India's economy is projected to grow more than 7% in 2022. India now stands behind US, China, Japan and Germany in the ranking.

A decade ago, India stood at number 11 while the UK was number five.