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India's per capita income too low despite being 6th largest economy: NITI

NITI Aayog Chairman Rajiv Kumar said, soon India will overtake UK, that will be even better news

Press Trust of India  |  New Delhi 

NITI Aayog Vice-Chiarman Rajiv Kumar
NITI Aayog Vice-Chiarman Rajiv Kumar

 

Emergence of as the sixth largest was very much expected but still there is a long way to go as the of the country is still low, vice-chairman said on Thursday.

The country, Kumar said, will have to develop capacity for intervening in the global stage in a meaningful manner as it is going to soon surpass the to become the fifth largest in the world.

"Very much expected. And this is result of our higher rate of growth. Soon we will overtake UK, that will be even better

"We will soon become the fifth largest in 2018 after the US, China, and But our is still 20 times lower than France, so we cannot stop here," Kumar told PTI.

He further said that since now is the sixth largest economy, so more and more will be expected from on the global stage.

"So we will have make that necessary preparation and create those capacity where we can intervene in global stage in a meaningful way with a clear pursuit of our national interest.

"There, we will have to create our own model of thinking, our own model of strategic interventions,"the vice chairman noted.

According to an analysis of data compiled by the World Bank, India emerged as the world's sixth largest economy in 2017 with a Gross Domestic Product (GDP) of $2.59 trillion, surpassing and likely to go past the

The of stood at $2.58 trillion in 2017. The UK, which is facing Brexit blues, had a of $2.62 trillion -- about $25 billion more than that of India.

Indian economy grew at a seven-quarter high of 7.7 per cent in the three months ended March 2018, helped by higher government spending and investment.

According to the IMF' World Economic Outlook released in April this year, the size of the Indian economy was pegged at $2.61 trillion, ahead of with a of $2.58 trillion.GDP

First Published: Thu, July 12 2018. 20:27 IST
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