India the cheapest major economy: Pay less, live better

Discussion in 'Economy & Infrastructure' started by Daredevil, Apr 8, 2013.

  1. Daredevil

    Daredevil On Vacation! Administrator

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    India is the cheapest major economy in the world says a survey conducted by Deutsche Bank across 57 countries.

    India is the cheapest major economy in the world, reveals 'Mapping the World's Prices 2013', a survey conducted by Deutsche Bank across 57 countries. Some examples of common disparities are given below.

    51% has been the rise in the price of 1 kg loaf of bread over the past 10 years in Mumbai to Rs 46, the cheapest city to buy it currently. In Tokyo and Paris, you'll have to pay Rs 480-490.

    Rs 113 is the price you pay for a pack of Marlboro cigarettes in Delhi. This is cheaper than in most cities. Be prepared to fork out Rs 930 in Melbourne and Rs 665 in New York.

    Rs 3,438 is the cost of a pair of sports shoes in India. Only China is cheaper, with shoes costing Rs 2,700. The US is more expensive at Rs 3,780, but the most expensive is Russia, where you will have to shell out Rs 8,802.

    A pizza at Pizza Hut costs Rs 583 in India. While the Kiwis can get the same for Rs 444, the Canadians have to spend Rs 1260.

    A movie ticket is Rs 212(on average) in India while Malaysians pay almost the same, Rs 218, but Mexicans have to shell out more than 10 times the amount at Rs 3159.

    Similarly for a Mc Donald Burger Venezuelans pay Rs 490 while South Africans and Indians pay Rs 110 and Rs 90 respectively.

    A litre of petrol which costs Rs 75 in India costs almost half, Rs 46, in Malaysia while it's close to double, Rs 123, in Honk Kong.

    For the distance you travel on public transport in India for Rs 10, you have to pay Rs 12 in Malaysia and Rs 196 in Australia.

    Same is the case for Coca cola. A 2 litre bottle costs Rs 58 in India, Rs 65 in China and Rs 195 in Australia. While a Coffee at the newly launched Starbucks in India costs only 135 in India, Mexicans pay Rs 174 for it, in Oslo it sells at Rs 531.

    On to clothing where a pair of Levi's 501 is almost same price in India and US (Rs 2010 and Rs 2538 respectively) it costs three folds (Rs 7292) in Russia.

    In Healthcare, common cold medicine for a week costs a mere Rs 107 in India while the same costs Rs 142 in Indonesia and Rs 768 in US.

    As for Health insurance premiums, we pay Rs Rs 4760 annually for it. Slightly higher than Philipinos (Rs 3173) but much lest that Americans (Rs 303210)

    Countries are listed from cheapest to most expensive. Prices are rounded off. The survey is in dollars but has been converted to rupees ($1=Rs 54). Data is taken from prices posted on the Net or from sources that have collated it. Products that are standard across countries or have close substitutes have been taken.

    India the cheapest major economy: Pay less, live better - The Economic Times
     
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  3. drkrn

    drkrn Senior Member Senior Member

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    few days back a guy from china argued in this forum exhaustively to prove that his country is cheaper to live with even better facilities than India contrary to reality.wish he sees this post and don't post again something dumb

    had there been any comparison with Chinese cities it would be delightfull
     
  4. anoop_mig25

    anoop_mig25 Senior Member Senior Member

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    its cheaper according to their terms . i mean they calculate everything in terms of dollars so that would be always less and d u think movie ticket which costs something 200 is cheap or pizza cost 500 is cheap.i think they are most costliest.A movie ticket should not be more then rs 100
     
  5. nrj

    nrj Stars and Ambassadors Stars and Ambassadors

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    India is way way cheaper. Except for the real estate sector maybe.

    Scandinavian countries are the most expensive. You never know when your pocket gets empty :tsk:
     
  6. HEILTAMIL

    HEILTAMIL Regular Member

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    ridiculous way to compare prices, how about the average income and development of the common citizen compared with each other,
     
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  7. ice berg

    ice berg Senior Member Senior Member

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    You should compare to their income. :thumb:
     
  8. nrj

    nrj Stars and Ambassadors Stars and Ambassadors

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    Why? Not every survey is meant to compare income. Most of the world transaction happen in dollar terms anyways.
     
  9. ice berg

    ice berg Senior Member Senior Member

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    A price comparison is pointles if you dont have a certain set of measurement.

    Price is always relative.
     
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  10. nrj

    nrj Stars and Ambassadors Stars and Ambassadors

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    Not when you have common denominator.
     
  11. Sakal Gharelu Ustad

    Sakal Gharelu Ustad Detests Jholawalas Moderator

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    Everything would change soon. Not to rejoice much. With around 10% inflation rate-- price doubles in less than 7 years. Pretty soon the gap with developed economies for essential commodities will start closing soon. No doubt that China will always be a bit expensive than us in the near future.
     
  12. Tronic

    Tronic Stars and Ambassadors Stars and Ambassadors

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    I was paying like 150-180 ruppees per ticket back in 2004-2005.. so 200 bucks is still not a huge rise..
     
  13. anoop_mig25

    anoop_mig25 Senior Member Senior Member

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    I was talking about per-mall days when we had single screen halls . Even now mumbai has few left which charges near to 100 bucks.
     
  14. amoy

    amoy Senior Member Senior Member

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    Based on ($1=Rs 54) most items mentioned in the initial post are indeed cheaper. What's the most fascinating for me is healthcare and health insurance, quality aside.

    Maybe public transportation and electrical appliances are cheaper compared in India.

    .
     
  15. vram

    vram Regular Member

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    This is actually easier to understand. India has a strong generic medicine industry relative to China and hence cheaper prices and more effective access. China reciprocally is way ahead in terms of machinery and electronics and has more efficient mass production. hence They should be more cheaper and of better quality in China..
     

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