India overtook the UK to become the world's fifth largest economy in the first quarter.

The UK has fallen to sixth place, behind the US, China, Japan, Germany and India.

The size of the Indian economy is US$854.7 billion, while that of the UK is about US$816 billion.

Assessments are based on U.S. dollar exchange rates on the last day of the quarter.

Two days after the report was released, the government released GDP data for the first quarter of this fiscal year, which showed a year-on-year growth of 13.5%.

While the government's GDP growth fell short of the Reserve Bank of India's forecast of 16.2%, India's economic growth in the quarter was the highest among developing countries.

In the current fiscal year, the Indian economy is expected to grow by more than 7%.

With inflation remaining high, the government is facing extremely high cost of living pressures.

The International Monetary Fund estimated in its recent report that India's economy has surpassed that of the UK at US$158 billion, ranking it fifth.

According to the IMF's assessment report for calendar year 2022, the size of India's economy is US$3.535 trillion, while that of the UK is US$337.60 million.

India ranks only 11th among the world's largest economies, while the UK ranks fifth.

But over the past decade, India's economy has grown rapidly and the government has taken favorable policy measures to create a conducive environment for foreign direct investment.

Barring a few instances of foreign direct investment outflows, India's overall economy has grown rapidly.

Brexit disrupts trade with the EU.

For now, though, the UK is gradually reviving its global trading relationships.

India's lead over Britain widens.

India's economy has indeed performed well in recent years, growing at a brisk pace.

In terms of foreign trade, India's imports in June increased by more than 51% year-on-year, and exports increased by more than 16% year-on-year.

In terms of energy, India imported large amounts of Russian oil to stabilize its own demand and resold it at a profit. This operation helped India make a lot of money in the first half of this year.

Accompanying strong economic growth has been a strong rebound in Indian stock markets this quarter, with the MSCI index rising to second place among emerging economies, behind China.

While the Indian economy was growing rapidly, the British economy was stagnating.

In fact, India's GDP surpassed that of the UK as early as the fourth quarter of 2021.

By the first quarter of 2022, India's economic advantage has further expanded, with GDP reaching US$854.7 billion, compared with US$816 billion in the UK.

UK GDP grew by just 1% in the second quarter and fell by 0.1% after adjusting for inflation, widening the gap further.