UK slips behind India to become the world's sixth biggest economy

[MH.Yang]

I think it is not correct to say Indian century, ASEAN population is just 600 million people, compared to India with 1.4 billion people, less than half of India but our total GDP is still higher than India GDP.

I would say, just let China compete with USA. India competitor is basically ASEAN

It's India's century, says Bob Sternfels, CEO of McKinsey

Talking about the recession, Sternfels said the signals are mixed as zero structural unemployment in the US and in most parts of Western Europe and some inflationary signs have started tapering off.

mintgenie.livemint.com

India is not qualified to compete with ASEAN. ASEAN's future competitor is the EU.

 

[Indos]

That's good to know

This is updated data, based on April 2022 IMF data, so not projection any more

2021

ASEAN total GDP : 3,358 Trillion USD
India total GDP : 3,173 Trillion USD (1 more quarter added compared to other nation)

List of ASEAN countries by GDP - Wikipedia

en.wikipedia.org

List of countries by GDP (nominal) - Wikipedia

en.wikipedia.org

 

[Redbeanpaste]

If i recall, India was the 5th largest economy in 1947 at Independence and is still the 5th largest economy.

 

[SecularNationalist]

With 20 times bigger population than UK and area far bigger than UK big fucking deal.

 

[Lava820]

This is updated data, based on April 2022 IMF data, so not projection any more

2021

ASEAN total GDP : 3,358 Trillion USD
India total GDP : 3,173 Trillion USD (1 more quarter added compared to other nation)

List of ASEAN countries by GDP - Wikipedia

en.wikipedia.org

List of countries by GDP (nominal) - Wikipedia

en.wikipedia.org

On the basis of IMF data, India's GDP is $3.53 trillion bettering the ASEAN countries

With 20 times bigger population than UK and area far bigger than UK big fucking deal.

Tell this theories to your Chinese papa who are hell bent on comparing its economy with the US

 

[Indos]

India is not qualified to compete with ASEAN. ASEAN's future competitor is the EU.

I believe we in ASEAN is now competing with India, just let at least another 8 years to see whether ASEAN can still be ahead despite having half of Indian population.

On the basis of IMF data, India's GDP is $3.53 trillion bettering the ASEAN countries

See the data, you show 2022 projection of India while I put 2021 GDP of ASEAN and 2021 GDP of India.

Better dont use projection and compared with real data on 2021

 

[Lava820]

2021

(1 more quarter added compared to other nation)

Are you high on weed? How you can simply add one more quarter? In India, this 1 year period starts from 1st April and ends on 31st March.

 

[beijingwalker]

India is like US, trade deficit hits reord high every passing month but can still register decent growth, US makes it happen by keeping printing money, how did India pull it off?

 

[Lava820]

India is like US, trade deficit hits reord high every passing month but can still register decent growth, US makes it happen by keeping printing money, how did India pull it off?

Namaste sir How're you? It's been quite a while we haven't fight with each other

 

[Indos]

Are you high on weed? How you can simply add one more quarter? In India, this 1 year period starts from 1st April and ends on 31st March.

31 March GDP number meaning your GDP figure has 1 additional quarter in the next year compared to other nation where the GDP ended in 31 December.

GDP is usually growing if any country doesnt experience any recession

 

[Lava820]

31 March GDP number meaning your GDP figure has 1 additional quarter in the next year compared to other nation where the GDP ended in 31 December.

You need to be familiar with the term . No communication can be made correctly if the financial year has been wrongly referred to

 

[313ghazi]

The UK economy is in decline. If energy prices are unchecked a lot of small businesses will be closing.

 

[Black Tornado]

What fall ?

Vietnam Q2 is more than 6 percent
Philippine Q2 is more than 7 percent
Malaysia Q2 is 8.7 percent
Indonesia Q2 is 5.4 percent

Dont get fooled by India Q2 growth, it has low base effect as Q2 2021 India faces Delta variant lockdown. See your Q4 2021 as 5.4 percent and even Q1 2022 is going down to 4.1 percent

I am waiting Indian statistic biro to show its Q to Q growth in 2022

What base effect? India recorded more than 20% GDP growth last year Q1 compared to -24.4% recession in Q1 of 2020, and this 13.5% growth is over the Q1 2021 figures. And our last quarter growth generally remains less than the earlier ones, it’s the overall year that matters. Which ASEAN country has pulled off 13.5% growth may I ask?

 

[Indos]

You need to be familiar with the term . No communication can be made correctly if the financial year has been wrongly referred to

What I mean is your calculation is 1 quarter forward of every body else. I mean we are all calculating it in yearly basis (12 months), but your fiscal period late in starting and advances in the end.

When every body has ended the fiscal year in Desember 31 2021, your calculation hasnt been ended as you starting it late in March 2021 instead of January 2021. So your GDP number always get the acceleration effect as usually there is likely growth happening between each quarter for any economy that posted positive growth.

There is also a relaxation effect during Covid period as during 2021 almost every body has low relaxation in term of people movement while 2022 started to relax

What base effect? India recorded more than 20% GDP growth last year Q1 compared to -24.4% recession in Q1 of 2020, and this 13.5% growth is over the Q1 2021 figures. And our last quarter growth generally remains less than the earlier ones, it’s the overall year that matters. Which ASEAN country has pulled off 13.5% growth may I ask?

20 % GDP growth is due to your Q2 (March-June) 2020 very strict lock down that made your economy has around minus 7 % growth in that particular year, while Indonesia only experience minus 2 % growth in 2020.

As I said dont use your Q2 number as benchmark, it is not only me who said it, but many economists as well. This is why I ask your QtoQ growth rate between Q1 and Q2 2022 to see real Indian economic growth as it eliminates bias when we do yearly calculation

 

[kankan326]

Don’t delude yourself. India will eventually be at least No 2 in our lifetime.

I don't care about GDP number. GDP is easy to be manipulated. The real big economic power must have some commodities that are competitive in international market. Producing less competitive goods that are only sold in domestic market won't strengthen a countries economic power(e.g Soviet Union). Compared to GDP number, I care more about a country's export.

No matter how big India's GDP is, India doesn't have any product competitive in international market. We barely see anything made in India.