New Delhi: The economy has grown to $2.75 trillion in 2018-19 from $1.99 trillion in 2015-16 despite the global economy faltering, the Economic Survey said.
When the world economy and emerging markets and developing economies (EMDEs) are projected to slow 0.3 and 0.1 percentage points in 2019, respectively, grow-th of the Indian economy is forecast to rise.
"India forms part of 30 per cent of the global economy, whose growth is not projected to decline in 2019," the survey said.
By the World Bank data, India surpassed France and emerged as the world's sixth-largest economy in 2017, and is likely to overtake the UK in the largest economic rankings in 2019.
The five economies ahead of India are the United States, China, Japan, Germany and the United Kingdom.
The contribution of the Indian economy to the GDP of EMDEs and the world economy has increased consistently over the years. "In a span of less than a decade, India's contribution to EMDEs GDP has increased by around 1.3 percentage points and to the world economy by around 0.7 percentage points," the survey said.