brazil overtakes U.K for 6th place!

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india's projected real growth is slated between 7-7.5%, for russia the same is 4.5-5%

indian rupee has depreciated from 45 to 53 to a dollar, depreciation of 18%. russian rubble has depreciated from 30.56 to 31.18 to a dollar, a depreciation of a mere 2%.

inflation rate for russia is slated to be around 7-8%, and india at around 10-12%.

the drop is because of depreciation in rupee. once the global out look stabilizes, there will be strong inflow of cash and rupee will trade back at around the previous levels. the drop is a temperary phenomenon.

my sense is, the government has on purpose allowed the rupee to depreciate to these levels, but we should be closer to the low levels that rupee will see, next quarter things should change.

The data are to 30 Sept。 2011， well before the rupee started its recent dramatic fall vs the dollar。

If the data were corrected to account for a now much depreciated rupee， the resulting figure would look very "ugly" for India。