India to become 5th or 6th Largest Economy (Nominal) by 2016-17.

[HariPrasad]

This might Help you >> These are the latest estimates compiled in July 2014.

India to become third largest economy by 2030: PwC - The Hindu

Article has a very pessimistic projections. If Rupee appreciate at 5% and our economy grows at 8%, we may become a 9 TR dollar economy by 2025.

You can be pretty wealthy. Rupee is far more valuable than Yen or Won. Idea is to increase the exports, more than the imports not just cheapen out imports at the cost of exports.

If you keep rupee value low to boost export, Oil import will kill you. There will be a high trade deficit and high inflation. Plus you can not be a wealthy nation.

 

[Kloitra]

If you keep rupee value low to boost export, Oil import will kill you. There will be a high trade deficit and high inflation. Plus you can not be a wealthy nation.

The idea is to get more exports than imports, and it can only be achieved (present scenario) reducing the Rupee value. You can only import so much oil, there is far bigger potential of exports. And you can be wealthy despite a low currency value - hence the examples of Won and Yen. Just create big enough economy!

 

[Beidou2020]

Continue to day dream

Indian economy is a massive debt based Ponzi scheme with massive twin deficits, inflation and the collapsing currency.

 

[Astra-2013]

Well ,as of 2013 Indian eonomy is at
~ $1.9 trillion or 114,00,000 crores @ 60/ $
------> @45/$ it will be $2.532 trillion.
Now if the Indian economy grows at 6% , 7% ,8% & 8% in 2014 ,15, 16 &17 respectively,
Then without any change in the currency levels ,
ie @ 60/$(from $1.9 trillion in 2013) ,
In 2014 @ 6% it will be $2.014 tillion ,
In 2015 @ 7% it wiould be $2.154 trillion ,
In 2016 @ 8% it would be $2.322 trillion, &
In 2017 @ 8% it would be $2.507 trillion,
so by 2017 Indian economy would be $2.507trillion @ 60/$.
convert it @45/$ and it would be,
150,00,000 crore = $3.33 trillion @45/$.
If that happens we would be 6th largest economy as per wiki ,behind,
6) UK -- 2017--- $3.34 trillion
5) France-- '17--$3.308 trillion
4) Germany--'17--$4.4 trillion
&
7) India---'17---$3.33 trillion

But i doubt RBI would let ruppee climb up to 45/$ as it would make our exports costlier ,forcing those countries to in a way go for a cheaper country instead,we can't afford to loose our clients,hence i doubt if would be allowed by the RBI to climb back to 45/$.

RBI for now is commited to let rupee hover around 59-61 , so i doubt it.

so in next 3 years we will add more than whole pakistans gdp in our economy. And in next 10 year we will add enough money in our economy to buy whole pakistani 5 times. (i am assuming very modest growth rate of 6% for india.)

 

[+4vsgorillas-Apebane]

Haaaaaaaa!

Turkey only has a gdp of 3.7 T in 2050!

I never bothered to look it up but the way Atatwolf talks, I thought Turkey was a major player.

In 2050, China and India will once again reign supreme and be free of big mouth Turks!

 

[kbd-raaf]

Continue to day dream

Indian economy is a massive debt based Ponzi scheme with massive twin deficits, inflation and the collapsing currency.

Inflation is on the negative trend, the currency has strengthened to the point where the RBI is not allowing it to drop further. The fiscal deficits is at a very manageable, ~4%.

 

[Chinese-Dragon]

Haaaaaaaa!

Turkey only has a gdp of 3.7 T in 2050!

I never bothered to look it up but the way Atatwolf talks, I thought Turkey was a major player.

In 2050, China and India will once again reign supreme and be free of big mouth Turks!

LOL.

Also bear in mind that these Western predictions tend to be overly negative regarding China, for example they thought we would surpass Japan by nominal GDP in 2020.

They also thought we would only be able to build a prototype of a 5th generation jet fighter in 2025.

We reliably beat their estimations by over a decade in in such cases.

 

[Nova2]

so in next 3 years we will add more than whole pakistans gdp in our economy. And in next 10 year we will add enough money in our economy to buy whole pakistani 5 times. (i am assuming very modest growth rate of 6% for india.)

Well that was my calculation @ 6% growth in 2016 ,with 7 &8 the following 2-3 years.

But as per wiki, by 2017 Indian economy would be around $2.597 trillion (my calculation was $2.507 trillion).
but we can hope it to grow much faster as growth this quater has just picked up.
GDP Growth Picks Up Sharply To 5.7 Per Cent in April-June - NDTVProfit.com

 

[HariPrasad]

The idea is to get more exports than imports, and it can only be achieved (present scenario) reducing the Rupee value. You can only import so much oil, there is far bigger potential of exports. And you can be wealthy despite a low currency value - hence the examples of Won and Yen. Just create big enough economy!

Reducing import is also as important as boosting export.

 

[Kloitra]

Reducing import is also as important as boosting export.

No, you want more rotation of money. So the priority is more export. Even if you have to import more.

 

[Ayush]

@levina apa - In the light of the above developments can you at least make sure that the powers that be increase @Ayush 's stipend & that @Dillinger on opening his own audit firm doesn't hire Audit Trainees at dirt-cheap hourly rates to slave-away for him !

In my short Audit Experience I was paid a mere $100 a month !

I'm sure you as Modi's Cousin would be able to enact these changes !

and 2nd or 3rd largest by 2050..