• About Us
  • Contact Us
  • Editorial Policy
  • Privacy Policy
  • Terms & Conditions
Saturday, January 28, 2023
The Washington Mail
  • Home
  • World
  • Business
  • Tech
  • Entertainment
  • Health
  • Lifestyle
No Result
View All Result
The Washington Mail
No Result
View All Result

India overtakes former colonial ruler UK to become 5th largest world economy: ‘law of Karma works’

by Editorial Board
September 5, 2022
in World News
India overtakes former colonial ruler UK to become 5th largest world economy: ‘law of Karma works’


United Bank for Africa Chairman Tony Elumelu says Russia’s war on Ukraine puts unplanned pressure on the economy.

India has overtaken the United Kingdom’s spot as the world’s fifth-largest economy, according to GDP figures from the International Monetary Fund. 

According to the calculation, based on US dollars, India overtook the U.K. in the final three months of 2021 and extended its lead into the first quarter.

Indian economy

FILE: A man talking on phone walks past a Xiaomi store in Kolkata, India, on 5 August 2022.  (Debarchan Chatterjee/NurPhoto via Getty Images / Getty Images)

Indiana business tycoon and Mahindra Group chairman applauded the news, saying it would have “filled the hearts” of every Indian who fought to win independence from their former colonial overlords. 

“The law of karma works,” Mahindra tweeted Friday. “News that would have filled the hearts of every Indian that fought hard and sacrificed much for freedom. And a silent but strong reply to those who thought India would descend into chaos. A time for silent reflection, gratitude.” 

GDP SHRANK AT REVISED 0.6% RATE IN SECOND QUARTER, SIGNALING US REMAINS IN TECHNICAL RECESSION

Nirmala Sitharaman, Minister of Finance and Corporate Affairs noted that a decade ago, India ranked 11th among the largest economies, while the U.K. was the 5th. 

The news came just after the country celebrated its 75th anniversary of independence from the U.K., which it achieved after nearly 100 years of direct rule.   

Meanwhile, U.K.’s demotion to sixth place comes at a tumultuous time for the country, both economically and politically. 

CLICK HERE TO GET THE FOX BUSINESS APP

The government has been unable to address soaring inflation, labor strife, and strains on the nation’s creaking health-care system since early July, when Prime Minister Boris Johnson announced his intention to resign and triggered a contest to choose his successor. The ruling Conservative Party will announce the winner on Monday. 

The Associated Press contributed to this report. 



Source link

Tags: 5thcolonialeconomyIndiaKarmalargestLawovertakesrulerworksWorld
Editorial Board

Editorial Board

Get the latest news and updates on World News, Business, Tech, Entertainment and more.

Related Posts

hulu

Cuba picks 5 MLB affiliated players for World Classic

by Editorial Board
January 26, 2023
0

HAVANA -- Cubans signed with Major League Baseball organizations and other foreign clubs will for the first time join domestic...

Remembering World War II veteran and long-time Bryan businessman

Remembering World War II veteran and long-time Bryan businessman

by Editorial Board
January 24, 2023
0

BRYAN, Texas (KBTX) - World War II veteran and long-time Bryan resident and builder, Joe Ferreri died at 103 years...

Rybakina knocks out World No.1 Swiatek in Melbourne upset

Rybakina knocks out World No.1 Swiatek in Melbourne upset

by Editorial Board
January 22, 2023
0

In a fourth-round showdown between two of last year’s Grand Slam champions, No.22 seed Elena Rybakina of Kazakhstan upset World...

Next Post
Acoustic flow technology helps pollution prevention and wastewater management Envirotech Online

Acoustic flow technology helps pollution prevention and wastewater management Envirotech Online

Popular Stories

  • DYOR Paving the Path to Digital Supremacy in Web 3.0 and NFT Industries

    DYOR Paving the Path to Digital Supremacy in Web 3.0 and NFT Industries

    0 shares
    Share 0 Tweet 0
  • Top Three Fruity Slots

    0 shares
    Share 0 Tweet 0
  • Congratulations on Lenercom ESS Won the iF design award 2022!

    0 shares
    Share 0 Tweet 0
  • Entrepreneur Davide De Vries redefines online sales through his distinctive mentorship programs.

    0 shares
    Share 0 Tweet 0
  • morph: The Web3 Brand That Bridges The Gap Between Real and Virtual Worlds Through Digital Innovation

    0 shares
    Share 0 Tweet 0

Recommended

Review: In Stoppard’s ‘Leopoldstadt,’ a Memorial to a Lost World – The New York Times

Review: In Stoppard’s ‘Leopoldstadt,’ a Memorial to a Lost World – The New York Times

October 4, 2022
Artist Interview Series features Our Members's Summer exhibit - The Mountaineer

Artist Interview Series features Our Members's Summer exhibit – The Mountaineer

August 3, 2022
Wisconsin State Fair reveals amphitheater headliners | Lifestyle

Wisconsin State Fair reveals amphitheater headliners | Lifestyle

June 7, 2022
  • About Us
  • Contact Us
  • Editorial Policy
  • Privacy Policy
  • Terms & Conditions

© 2022 The Washington Mail. All Rights Reserved.

No Result
View All Result
  • Home
  • World
  • Business
  • Tech
  • Entertainment
  • Health
  • Lifestyle

© 2022 The Washington Mail. All Rights Reserved.