India's GDP will be bigger than Japan, Germany combined in 4 years: IMF

[Lord ZeN]

NEW DELHI: The Indian economy, whose size is $2 trillion as of now, is poised to overtake the combined GDP of Japan and Germany in the next four years on the back of recent policy reforms and improved business confidence in the country, IMF chief Christine Lagarde said today.

"Indeed, a brighter future is being forged right before your eyes. By 2019, the economy will more than double in size compared to 2009. When adjusting for differences in purchase prices between economies, India's GDP will exceed that of Japan and Germany combined," the IMF Managing Director said at a lecture here.

"Indian output will also exceed the combined output of the three next largest emerging market economies -- Russia, Brazil, and Indonesia. So clearly India's weight among the group of emerging markets will increase," she said.

"Recent policy reforms and improved business confidence have provided a booster shot to economic activity," she said.

Using India's new GDP series, the IMF expects growth to pick up to 7.2 per cent this fiscal year and accelerate further to 7.5 percent next year--making India the fastest growing large economy in the world, she added.

Asked if the International Monetary Fund (IMF) believes new series of data, she said "conditionally".

On whether the multilateral funding agency has sought for some explanation on how the new series have been arrived at she merely said, "yes".

Elaborating on reasons for rapid economic expansion, she said much of this has to do with population growth.

"More than 50 per cent of India's population is at present below the age of 25, and more than 12 million people enter the labour market every year," she said.

By 2030, Lagarde said India is expected to have the largest labour force in the world.

At more than one billion people of working age, India's labour force will be larger than the combined labour force in the United States, the euro area, and Indonesia, she added.

"The potential benefits to be reaped from your collective work efforts could be enormous. So, we know India can run--- judging by your cricket record. I believe India can fly," she said.

As India grows and takes its rightful place in the global economy, the focus should remain on sound policies and inclusive institutions, she said.

India's GDP will be bigger than Japan, Germany combined in 4 years: IMF - The Economic Times

 

[Rajput_Pakistani]

But still then an average Indian Citizen will be earning atleast 20 times lesser then a German & Japanese. By 2025 India will take on China as the largest populated country. Its same as 100 laborers may earn combine the same income as an Executive of a multinational company, but lots of difference.
The development is, how much the citizen of a country have access to clean water, best of health and education, jobs, transport etc.
All other is just paper figures of politicians and bureaucrats to fool the public.

PS: Its true for Pakistan as well.

 

[AMCA]

LOL BS!

BS because your economy will shrink to the size of a peanut. Now quite trolling and add to the subject.

 

[oFFbEAT]

......should have posted this after 4yrs......

 

[Lord ZeN]

But still then an average Indian Citizen will be earning atleast 20 times lesser then a German & Japanese.

Combined population of Germany & Japan is around 205 million. So if we really become as big as them economically ( in PPP terms), then we would be actually earning 1/6th of income earned by an average German or Japanese not 1/20th of their income. And off course India would still remain an average income country but still it would be a really big improvement.

 

[AMCA]

But still then an average Indian Citizen will be earning atleast 20 times lesser then a German & Japanese. By 2025 India will take on China as the largest populated country. Its same as 100 laborers may earn combine the same income as an Executive of a multinational company, but lots of difference.
The development is, how much the citizen of a country have access to clean water, best of health and education, jobs, transport etc.
All other is just paper figures of politicians and bureaucrats to fool the public.

PS: Its true for Pakistan as well.

8 trillion Economy in another 4 years if we can pull that off, our entire population will have a home, with clean drinking water and surplus energy. India is on the path to growth and I am sure in another decade we will catch up with the developed world. May sound funny to you now, but save some of that envy for tomorrow coz we are about to make you dry.

 

[Genesis]

LOL BS!

it's not BS, it's just that when you read the first paragraph, you think nominal. This article actually means PPP, which India is close right now. India's about 7.2 trillion and Germany + Japan is about 8.5 trillion?

When adjusting for differences in purchase prices between economies, India's GDP will exceed that of Japan and Germany combined

 

[AMCA]

Don't tell me what to do Hanudi!!

I am just asking you to stop showing your national attitude. I know its too much to ask from you guys anyways.

it's not BS, it's just that when you read the first paragraph, you think nominal. This article actually means PPP, which India is close right now. India's about 7.2 trillion and Germany + Japan is about 8.5 trillion?

No the article does not mention the PPP, its the Nominal GDP which is stated.

The Indian economy, whose size is $2 trillion as of now, is poised to overtake the combined GDP of Japan and Germany in the next four years on the back of recent policy reforms and improved business confidence in the country, IMF chief Christine Lagarde said today.

 

[Lord ZeN]

8 trillion Economy in another 4 years if we can pull that off, our entire population will have a home, with clean drinking water and surplus energy. India is on the path to growth and I am sure in another decade we will catch up with the developed world. May sound funny to you now, but save some of that envy for tomorrow coz we are about to make you dry.

hmm.. We can only pull out a modest 3.4 Trillion dollar GDP ( in terms of nominal GDP) by 2019. But we might just cross the 10 Trillion mark ( in terms of PPP) by 2019.

 

[protest]

it's not BS, it's just that when you read the first paragraph, you think nominal. This article actually means PPP, which India is close right now. India's about 7.2 trillion and Germany + Japan is about 8.5 trillion?

Exactly. Don't people read through the article before commenting. India would actually cross $8.5 trillion n 2 years if IMF's October 2014 projections are held true.

 

[Genesis]

No the article does not mention the PPP, its the Nominal GDP which is stated.

maybe I'm wrong, maybe India will double it's GDP every 2 years, who's to say, and maybe my understanding of the English language is failing me.

Exactly. Don't people read through the article before commenting. India would actually cross $8.5 trillion n 2 years if IMF's October 2014 projections are held true.

who knows, I could be wrong.

 

[protest]

I am just asking you to stop showing your national attitude. I know its too much to ask from you guys anyways.



No the article does not mention the PPP, its the Nominal GDP which is stated.

There is no way in hell, that India would quadruple itself in 4 years. A simple math calculation would tell you that. For India to pull it off it must be growing at over 60-70% a year.

who knows, I could be wrong.

Aren't you being sarcastic now? Stop it.

 

[definitelynotIndian]

Article mentions PPP terms not nominal. Any way India will be a 3 trillion $ economy by 2019. And pretty sure we will take over Germany in nominal terms by 2025.

 

[Chinese-Dragon]

By 2030, Lagarde said India is expected to have the largest labour force in the world.

Wow so China will still have the largest labor force in the world up to 2030?

That gives us more time than I expected. And even after that our labor force will still be enormous.

With more per capita productivity that could give us a truly astonishing level of total output.

 

[protest]

According to IMF October 2014 report

PPP projections for 2017 for each of these countries are as follows.

(In Billions)
Germany : 4024.515
Japan: 5202.409
India: 9304.360

 

[Ind4Ever]

It's basic common sense . India yet to see lots of investments from abroad . With major push for Make in India by our leader NaMo time has come for more investment from within and outside our country. There was a situation where Indian companies stopped investment in India shifting abroad . Just during 2012-2014 . Now it's reverse foreign companies are queuing at our doors to meet our PM and looking for making goods in India. For example Australians forms th major investment in china . They are manufacturing lots of stuff for their country in china . If even 20% of this manufacturing base shifted to India it will have lots and lots of positive effect on our economy .

Given the situation and alarming aggression of Chinese who would end in fighting any of its neighbours it's better to get out of China as soon as possible .Australians and Americans will welcome Indian government move to open our doors for manufacturing their goods .


Finally now wait for another 5 years term for BJP after this term . No stones will be unturned to make Indian Economy the fastest growing economy of the world !!!

Great news . This will give lots of hopes for the business world to invest in India . SHE EVEN SAID THAT SHE COULD PERSONALLY INVEST IN INDIA. ... THAT LOTS OF CONFIDENCE I MUST SAY