ST1976
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No, that's not what PPP means.
It means that the purchasing parity within the country is a lot higher.
This is due to the low cost of Labour and low living standards in India, which means that a lot more can be purchased for the same amount, theoretically making the average person better off on paper, but not when you have a colossal population like India.
You've again proven that India suffers from a colossal amount of poverty due to the massive value of its PPP economy within the nation and that a lot more can be bought for a lot less due to the higher value of currency to the average person.
Of course this is going to be lower in the UK where the currency value for the average person is lower due to the higher prices of commodities and services due to having a much more advanced educational and operational system, which leads to much higher competition in demand and therefore better living standards in the long run
You should be counting GDP PER CAPITA.
Overpopulated countries like India will always rank at the top.
Compare with China, who has a similar population as yours, and look at the piss-poor gau mutra showing.
And Comparing London, Shanghai, Beijing and HongKong with Mumbai is like comparing your kaamwali bai to Aishwarya Rai.
Not even in the same league as infra, city services, convenience to access parts of the city and a hundred other things.
I know it looks good in Swarajya Mag, but come the f*ck on !!
Stay limited within India.
Don't make me post pictures of Dharavi slums - which should be enough.
how you people think of Philippines, the NIC member as below? are the countries like Philippines able to feed themselves?
here we have table of NIC, current. we find GDP on PPP per Capita of India is close to Philippines-Indonesia, have a close look on the table as below.
Newly industrialized country - Wikipedia
en.wikipedia.org
here i would say, India-Philippines-Vietnam-China might be having similar ratio of 'undocumented' part of GDP
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