<p>India&rsquo;s growing economy was expected to eclipse that of Great Britain in 2020, but the Brexit referendum and the resulting effect on the pound has greatly accelerated the process. ;</p>
<p>Now, for the first time in nearly 150 years, India&rsquo;s economy manages to come out on top with a 2016 GDP of $2.30 trillion compared to the UK&rsquo;s $2.29 trillion. ;</p>
<p>Furthermore, India&rsquo;s GDP is expected to grow by 6-8% per annum over the next few years compared to UK&rsquo;s 1-2%. ;</p>
<p>This is an important and symbolic milestone in India&rsquo;s economic history. One can compare it to the Japanese victory over Russia in 1905 that helped dispel the belief that the East could never defeat a western power in a military conflict. ;</p>
<p>India endured a long period of stagnation that began in 1947 when the newly-independent country decided to ;pursue a socialist economy. Things started to change in the 1990s when India implemented market reforms, and the Asian nation has seen rapid growth over the past two decades.  ;</p>
<p>2016 marks a significant shift in power dynamics between India and the western world, the effects of which have already been seen in recent trade deals with the UK.</p>
<p>India&rsquo;s GDP per capita is still only one fifth of Great Britain&rsquo;s, however, and about 20% of Indians are considered &ldquo;poor.&rdquo; An estimated 80% of that ;population lives in rural areas, many of which struggle with inadequate sanitation. ;</p>