India overtakes France

India has overtaken France to be the world’s sixth-largest economy and the World Bank says it is likely to also overtake the UK.

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At the end of June India’s gross domestic product was $2.597trillion, with France on $2.582tn and the UK on $2.62tn.

As India has 1.34 billion inhabitants against the 67 million in France the annual earnings per head are vastly inferior – with $1,940 (€1,670) in India and $38,477 (€33,144) in France – but it is on course to be the world’s third largest economy in 15 years.