As of 2022, India is the ______ largest economy in the world (as measured by nominal GDP).
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. Fifth.
Nominal GDP represents the total market value of all goods and services produced within a country's borders at current prices, without adjusting for inflation. In 2022, India's nominal GDP reached approximately $3.35 trillion, surpassing the United Kingdom to achieve this ranking. This signifies the sheer size of India's economic output in current dollar terms, driven by its large population and growing economic activity across various sectors.