India overtakes Japan to become third- largest economy in ppp terms.

[R0H1T]

Pakistan went from 165,760 > 210,566 in 1 year. Stayed at 47.

While India went from 1,727,111 > 1,676,143 in 1 year. Dropped from 11 to 9th.

That's what is called as exchange rate variations hence nominal GDP in $$ terms fails as a credible metric of growth.

 

[Dharmachakra]

All these comparisions are plain bull-****.

Just dont jump on me, but the reality is quiet different.

The economic activity in India is high only becos it has 10 times the population of Japan. when we drill down the numbers further, Japan will stay ahead in relative terms for the foreseeable future.

I being one of the critic of these economic indicators and their calculations methods, this news dont make me feel proud.

IF we look at the drill-downed numbers, we being almost times more populated has almost 10 times less per-capita GDP when compared to Japan. Same with China as well.

Gross indicators are only meant to encourage more investments.

IT will take us another 50 years of collaborative effort to proudly say, hey now we have $40K per-capita,only when we can get rid of the corrupt and put efficient into power. Otherwise it will be another lost dream.

 

[RayKalm]

how it is possible when u have a growth rate of 2.4 % only ?

Nominal looks at it in an overall bases - population, cost of living, taxes, average incomes, value of your currency, how you use the dollar etc.

 

[illusion8]

All these comparisions are plain bull-****.

Just dont jump on me, but the reality is quiet different.

The economic activity in India is high only becos it has 10 times the population of Japan. when we drill down the numbers further, Japan will stay ahead in relative terms for the foreseeable future.

I being one of the critic of these economic indicators and their calculations methods, this news dont make me feel proud.

IF we look at the drill-downed numbers, we being almost times more populated has almost 10 times less per-capita GDP when compared to Japan. Same with China as well.

Gross indicators are only meant to encourage more investments.

IT will take us another 50 years of collaborative effort to proudly say, hey now we have $40K per-capita,only when we can get rid of the corrupt and put efficient into power. Otherwise it will be another lost dream.

I know u r right, but just calculate 40k * 1 billion thats 40 trillion, probably the net world economy presently, to achieve that pls calculate what sort of industry we need, where's the market to buy 40 trillion worth of export goods or services from a single country?

 

[Aramsogo]

Your comments are too logical to be Indian.
You must be a false flagger. What are you truly?? German, Swiss??

All these comparisions are plain bull-****.

Just dont jump on me, but the reality is quiet different.

The economic activity in India is high only becos it has 10 times the population of Japan. when we drill down the numbers further, Japan will stay ahead in relative terms for the foreseeable future.

I being one of the critic of these economic indicators and their calculations methods, this news dont make me feel proud.

IF we look at the drill-downed numbers, we being almost times more populated has almost 10 times less per-capita GDP when compared to Japan. Same with China as well.

Gross indicators are only meant to encourage more investments.

IT will take us another 50 years of collaborative effort to proudly say, hey now we have $40K per-capita,only when we can get rid of the corrupt and put efficient into power. Otherwise it will be another lost dream.

 

[chauism]

That's what is called as exchange rate variations hence nominal GDP in $$ terms fails as a credible metric of growth.

Actually exchange rate matters a lot on the international level. It tells how desirable one's currency hence its products on the international market. While PPP is more accurate to estimate the well being of individual of one country, nominal GDP is more accurate to estimate the competitiveness of one country as a whole on the international level.

 

[Varunastra]

Waching some Bollywood films make me feel India should be good at economy,that's it.

I DON'T BELIEVE YOU!!

 

[Guli Danda]

According to the data from the IMF and the World Bank on this link:

List of countries by GDP (nominal) - Wikipedia, the free encyclopedia

India was at 9th place in 2010.

But in 2011 they dropped down two places (down to 11th place), surpassed by both Russia and Canada.

(First column in the link is IMF data for 2011, second column is the World Bank data for 2010).

??? India is in 10th...
Btw @PPP
In economics, purchasing power parity (PPP) asks how much money would be needed to purchase the same goods and services in two countries, and uses that to calculate an implicit foreign exchange rate. Using that PPP rate, an amount of money thus has the same purchasing power in different countries. Among other uses, PPP rates facilitate international comparisons of income, as market exchange rates are often volatile, are affected by political and financial factors that do not lead to immediate changes in income and tend to systematically understate the standard of living in poor countries, due to the Balassa–Samuelson effect.
So PPP is better when comparing 2 countries.

 

[epsilon]

yes ur correct GDP is considered. But remember PPP decides the happiness and standards of the people. Even for grown economies PPP should hav played a role before they are fully grown

 

[rai_kamal]

how it is possible when u have a growth rate of 2.4 % only ?

ofcourse, Madarsa mathematics..
They still don't believe that we dropped from 9th to 11th...
But our gdp still grew to 1.84 trillion $, just hope if once againif the exchange rate comes to 44-46 level then our nominal gdp will be way above the current one...