Per a report from Bloomberg U.K., India surpassed U.K. in the “final three months of 2021.” The calculations were done using the International Monetary Fund database and historic exchange rates on the Bloomberg terminal. The IMF’s own forecasts show India overtaking U.K. in dollar terms on an annual basis this year, putting India behind U.S., China, Japan and Germany. A decade ago, India ranked 11th among the largest economies, while the U.K. was 5th.
The India Expert is struck by how long Bloomberg, which normally provides up-to-minute news and analysis, took to acknowledge what we have reported for months and the world already knows.
The Indian economy is forecast to grow more than 7% this year. A world-beating rebound in Indian stocks this quarter has just seen their weighting rise to the second spot in the MSCI Emerging Markets Index, trailing China. The sterling has also underperformed the dollar relative to the rupee, with the pound falling 8 per cent against the Indian currency this year.
