India pips Japan to become third-largest economy in PPP

[IndoCarib]

New Delhi: India has overtaken Japan to become the world's third-largest economy in purchasing power parity, a newspaper reported on Thursday.

With this, India has become the third-biggest economy after the United States and China.

Purchasing power parity (PPP) is based on the model as to how much money is required to purchase the same goods and services in two countries, and uses that to calculate an implicit foreign exchange rate.

Quoting a data released by the International Monetary Fund (IMF) the paper said that India's gross domestic product in PPP terms stood at $4.46 trillion in 2011. This is slightly higher than that of Japan at $4.44 trillion.

India's share in world GDP in terms of PPP stood at 5.65% in 2011 against Japan's 5.63%, with the gap expected to widen significantly by 2017, the paper reported.

The IMF estimates that the share of India's GDP in PPP terms would grow to 8.09% compared with 4.8% for Japan over five years.

India pips Japan to become third-largest economy in purchasing power parity

 

[Sergi]

It has nothing to do with Indian economy. Indian economy at the moment is stable NOT climbing high. It's Japan's economy that has fallen after the disaster. Indian economy with pick up the space after this quadrant

 

[Raphael]

I reiterate my congratulations to India, but this topic has already been discussed:

http://www.defence.pk/forums/world-...n-become-third-largest-economy-ppp-terms.html

 

[IndoCarib]

sorry if already posted

 

[DelhiDareDevil]

Yes good news, but we need to be 3rd in GDP terms.

 

[perplexed]

Yes good news, but we need to be 3rd in GDP terms.

U mean nominal terms ?? ofc..

but in a domestic demand driven economy like India, PPP terms is quite significant as well...