India is world's 4th largest economy December 29, 2004
India has become the fourth largest economy in the world after the US, China and Japan, according to a media report in Washington. The US accounts for 21.1 per cent of the world gross domestic product, China 12.6, Japan 7, India 5.7, Germany 4.5, France 3.2, UK 3.2, Italy 3, Brazil 2.8, Canada 1.9, Spain 1.8 and Mexico 1.8, The Washington Times notes in its year-end review on Tuesday. Seven out of the world's biggest companies are American, two are British and one Japanese. The ranking is Citigroup (USA) at the top followed by General Electric (USA), American International Group (USA), ExxonMobil (USA), BP (Britain), Bank of America (USA), HSBC Group (Britain), Toyota Motor (Japan), Fannie Mae (USA) and Wal-Mart (USA), "America has become the global marketplace and the world embraces US products," the paper notes. It cites the examples of Coke, Big Macs and IPods.