INSIGHT: world's fifth-largest economy

As recently as 2014, India's GDP (measured in current, a.k.a. "nominal", dollars at market exchange rates) ranked tenth globally.  Having overtaken Russia, Italy, and Brazil over the past four years, India is on track to eclipse both the United Kingdom and France in 2019 to become the world's fifth-largest economy in current dollars.  On a purchasing power parity basis (i.e., adjusted for differences in the cost of goods and services), India's economy is already larger than those of Germany, the UK, and France combined.

More to come on this topic in an upcoming dispatch.