India overtakes UK to become fifth largest economy in the world. #Brexit is blamed

Labourers work at the construction site of a residential complex in New Delhi, India, December 11, 2016 [Representational Image: Reuters].

What was Philip Hammond saying about the UK’s economy in his Autumn Statement?

“It is a privilege to report today on an economy which the IMF predicts will be the fastest-growing major advanced economy in the world this year”?

So much for the IMF. So much for Philip Hammond.

So much for Brexit, too – as it is said to have much to do with the UK’s fall down the international league table. And so much for Theresa May, who is determined to ram it down all our throats.

I thought Brexit was supposed to be a joyful release from the strictures imposed on us, and a leap into a bright, bountiful future.

It has been nothing but misery so far.

The Indian economy has overtaken its colonial ruler UK’s economy to become the fifth largest in the world. India’s economic growth is expected to clock between six to eight percent compared to the UK’s expected growth of one to two percent until 2020.

Following Brexit (Britain’s decision to exit the European Union), the value of the British pound declined and thus contributed to India jumping ahead of Britain’s economy in gross domestic product (GDP) terms, Sputnik news reported.

The jump in ranking can be attributed to India’s rapid economic growth over the last 25 years and due to Brexit. Not only has India overtaken the UK but it is also expected to widen the gap on the back of robust economic prospects. Even if the currencies fluctuate, the Indian economy is expected to remain ahead of that of the UK on the basis of future growth prospects.

Source: Indian economy: India overtakes UK to become fifth largest economy in the world

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4 thoughts on “India overtakes UK to become fifth largest economy in the world. #Brexit is blamed

  1. Barry Davies

    India has a big advantage over us, it isn’t in the eu and doesn’t have the strictures of the eu, the remain people told us we had to be in the eu to maintain our position, well we are still in it and lost the position, go figure as the yanks say, perhaps that was just another remain lie as well.

    1. Mike Sivier Post author

      Now you’re just being silly.
      We lost that position because the value of the pound dropped – as a result of the decision to LEAVE the EU.
      So your comment should have read:
      “India has a big advantage over us; it didn’t make a decision to leave a large, multi-nation bloc and isn’t facing the drawbacks that causes in international economics. The Leave people told us we had to get out of the EU to improve our position – well, we made the choice to go and lost that position. Go figure, as the Americans say.
      “Perhaps that was just another Leave lie as well.”

  2. mrmarcpc

    Well France overtook us to become 4th and now we’ve lost another place, but the tories will have you believe that everything’s fine and we’re still rich, we are, just not for the everyday people, to us, we’re told we’re skint but for the rich or for war machines, we’re rolling in dough!

  3. casalealex

    Real reform of monetary and other problems is a partnership where both the country and the lender are benefitted. However, with IMF ‘reform’ the lender ends up with the assets and the country gets shafted.

    The IMF starts by writing up glowing reports by Goldman Sachs experts. “Investments will improve your revenues.” they promise. But when the revenues fall short IMF snivels, “We’re so sorry you screwed up. Give us your national treasures and we’ll renegotiate”.

Comments are closed.