India's consumer spending in 2020 will be equal to Germany's total economy

[gslv mk3]

Per capita?
India sux!

Just curious, who is responsible for that ?

 

[shjliu]

The report’s projections indicate that the average household income in India will triple to $18,500 in 2020, from $6,400 in 2010—acting as a major driver in retail growth and leading to evolution of new consumer segments.

Anyone knows how many people in an average household ? because it stated that $18,500 per household.

 

[Flash_Ninja]

India's consumer spending in 2020 will be equal to Germany's total economy

And yet queues of visa applicants outside German Embassy in India hoping to find better work in Germany will grow further, ever wondered why is that so?

This is a stupid comparison to say the least....

Remember "superpower by 2012"?

Whenever Indians claim to have/do something by a certain date, its almost always just bullshit to inflate some peoples egos.

 

[BetterPakistan]

According to Goldman Sachs predictions, India GDP in 2020 will be $2848 Bn and Germany GDP in 2020 will be $3519 Bn. I think its enough for comparison.

Other than this there's no comparison between Germany and India. Germany is quite ahead from China in living standard and China is quite ahead of India so I don't think that India living standards can become like of Germany before next 3 decades atleast.

 

[coffee_cup]

What does that have to do with Indian economy Genius ? Germany is a developed nation & their living standards and per capita GDP will be ahead of us in the coming decades too.

That the comparison in OP is plain BS.

GDP ... GDP ... GDP... this is all what we hear from Indians.

Beat advanced nations in HDI which at the moment is lower than Sri Lanka and then come back here to brag.

Or at least come close to them in HDI.

 

[RoadRunner401]

The report’s projections indicate that the average household income in India will triple to $18,500 in 2020, from $6,400 in 2010

Where did they get this Average income of $6500 US dollars from?


The annual median per capita income in India stood at $616, the 99th position among 131 countries.

http://www.business-standard.com/ar...lowest-among-brics-gallup-113121600968_1.html

 

[gslv mk3]

Where did they get this Average income of $6500 US dollars from?


The annual median per capita income in India stood at $616, the 99th position among 131 countries.

Household income (PPP?)

 

[gslv mk3]

That the comparison in OP is plain BS.

GDP ... GDP ... GDP... this is all what we hear from Indians.

Beat advanced nations in HDI which at the moment is lower than Sri Lanka and then come back here to brag.

Don't worry, we are already at medium HDI and will make further strides in the future.

And GDP matters when it comes to comparing national power.

 

[ito]

I'll be the first one to congratulate India if that ever happens in my life time. But I am quite sure I won't be living in year 2350.

Wait for another 2 decades...yo don't have to wait until 2350. Indian economy was 500 billion just 15 years ago.Now it is 5 time that number.

 

[liall]

According to Goldman Sachs predictions, India GDP in 2020 will be $2848 Bn and Germany GDP in 2020 will be $3519 Bn. I think its enough for comparison.

Other than this there's no comparison between Germany and India. Germany is quite ahead from China in living standard and China is quite ahead of India so I don't think that India living standards can become like of Germany before next 3 decades atleast.

I am willing to bet against what ever GS report you are quoting to say India will be a 2.8 trillion $ economy by 2020. India's GDP is 2.4 trillion $ in 2016 up 400 billion $ from a 2 trillion $ economy in 2014. Even if the trend continues it is to be 3.4 trillion $ but the only case it will be less than 3 trillion $ will be a war with either Pakistan and China which is not going to happen.

That the comparison in OP is plain BS.

GDP ... GDP ... GDP... this is all what we hear from Indians.

Beat advanced nations in HDI which at the moment is lower than Sri Lanka and then come back here to brag.

Or at least come close to them in HDI.

You know that GDP/capita has 33% weight in calculation for HDI right? To beat advanced nations or to join them you need better GDP.

 

[Indian wonk]

Where did they get this Average income of $6500 US dollars from?

Read the BCG report again
It divides Indian population into many parts

Professional Affluent
Traditional affluent
Urban aspirers
Rural aspirers
Large town next billion
Small town rural next billion
Strugglers

The report didn't say all Indians will have an average family income of 18500 USD in 2020. It is the Household income of Urban and rural aspirers around 35-40 million house holds

India has 250 million+ house holds more than the total population of Pakistan.



And secondly stop quoting 2013 figures

 

[gslv mk3]

I'll be the first one to congratulate India if that ever happens in my life time. But I am quite sure I won't be living in year 2350.

It's already happening. Check where China was 10-13 years ago.

 

[Sully3]

That the comparison in OP is plain BS.

GDP ... GDP ... GDP... this is all what we hear from Indians.

Beat advanced nations in HDI which at the moment is lower than Sri Lanka and then come back here to brag.

Or at least come close to them in HDI.

post of the thread

 

[BetterPakistan]

I am willing to bet against what ever GS report you are quoting to say India will be a 2.8 trillion $ economy by 2020. India's GDP is 2.4 trillion $ in 2016 up 400 billion $ from a 2 trillion $ economy in 2014. Even if the trend continues it is to be 3.4 trillion $ but the only case it will be less than 3 trillion $ will be a war with either Pakistan and China which is not going to happen.

And what about the population difference?

India can only compare itself with China due to its population size. Any other comparison is useless.

 

[gslv mk3]

And what about the population difference? Does that matter?

When comparing the life standards ? Yes.