Ms Le Thuy Trang, President of APBA have a meeting with INCHAM

On February 17, the PTI news agency quoted a US-based research organization as saying that in 2019 India had overtaken the UK and France to become the world's fifth largest economy.

India is developing an open market economy and its GDP in 2019 is 2,940 billion USD, just above the UK and France with GDP respectively. is 2,830 billion USD and 2,710 billion USD. However, due to the large population, India's GDP per capita is only 2,170 USD.

The report also stated that in terms of purchasing power parity (PPP), the GDP of India is 10,510 billion USD, surpassing Japan and Germany to rank third in the world.

The service sector of India is the fastest growing industry in the world, accounting for 60% of the economy and 28% of employment while manufacturing and agriculture are two other important sectors of the Indian economy.