Today, we’re going to talk about the world economy in the context of the World Economic Ranking 2022. At this point, you should be aware that the GDP of India recently passed Britain and is now the world’s fifth-largest economy.
India has emerged as being at the top of the list of the top 5 nations in the world so far, and based on information that is currently available, India ranking in world is poised to pass Japan very soon.
2022 Global Economic Ranking
You must be aware that the Corona era caused significant damage to the Indian economy, which has recently started to recover slowly. According to the World GDP Ranking 2022, if we talk about the fiscal year 2022–2023, the fiscal year Indian economy expanded further at a rate of 13.5% in the first quarter of 2022–2023, which ran from April to June.
However, it was far lower than the RBI’s projection of 16.5%. According to data made public by the Ministry of Statistics and Program Implementation and the Global Economic Ranking 2022, the COVID pandemic significantly impacted the first quarter of the previous two years, but not this time. The GDP of India indicates that commodity prices are high. The rate of economic progress has accelerated and become more apparent
Overview on GDP of India in 2022
Indian GDP in Trillions for 2022
According to the SBI report, America and Europe are experiencing the highest rates of inflation in 40 years. China is just a little behind, with China’s construction sector declining and banks in catastrophic condition. India, too, has an extremely high degree of inflation. Nevertheless, Indian GDP in trillions was expected by 2022 and it eventually reached the mark.
Nonetheless, compared to western nations, there is extremely little inflation. The government recently launched the PLI programme, making India prepared to compete with China in terms of automotive components, semiconductors, telecom equipment, electric cars, solar modules, medical products, etc., according to India GDP 2022 in trillion.
Top 5 Economies Worldwide
- First, if we discuss the USA as one of The Top 5 economies in the world, rank it first. Let us be clear that the USA, whose capital is Washington DC, has a population of 335 million people and a land mass of 9.834 million square kilometres.
- The United States GDP is 26 trillion dollars, according to the top five economies in the world. It represents around 24.1% of the global GDP.
- With a size and population of over 9.597 million square kilometres and 1.45 billion, respectively, China comes in second in this list.
- Japan, whose capital is Tokyo, has a total area of 377,975 square kilometres and a population of 125 million. The India GDP 2022 came with high hopes for future.
- Germany, whose capital is Berlin, is ranked number four on this list. Its entire area is roughly 357,588 square kilometres, and its population is 84 million. It provides 4.1 percent of GDP, according to the top 5 economies in the world.
- India, with Delhi as its capital, has a population of 1.4 billion and a surface area of 3.287 million km2. Top 5 in the globe, India economy ranking has lately overtaken the UK and generated 3.5 percent of the global GDP.
Conclusion
India has surpassed the largest economies in the world in an amazing fashion despite the adversities during the COVID period. In this article, we have shared information about the GDP of India with you today about it. We hope you understand the following: The World Economic Ranking for 2022 will be very helpful. This nation is expected to grow even more in the coming years and lead the world one day.
Also Read: Latest IMF World Economy Report- India Faces Red Flags
