Is India the third largest economy now?

Discussion in 'Economy & Infrastructure' started by civfanatic, Nov 30, 2010.

  1. civfanatic

    civfanatic Retired Moderator

    Joined:
    Sep 8, 2009
    Messages:
    4,562
    Likes Received:
    2,526
    Location:
    తెలంగాణ
    So, I just got the 25-year special edition of The Economist magazine. According to the world economy index in the back, here are the Top 10 world economies coming into 2011, in PPP figures:

    1. USA - $14,996 billion
    2. China - $11,292 billion
    3. India - $4,508 billion
    4. Japan - $4,408 billion
    5. Germany - $2,989 billion
    6. Russia - $2,351 billion
    7. Brazil - $2,314 billion
    8. United Kingdom - $2,221 billion
    9. France - $2,189 billion
    10. Italy - $1,864 billion

    :emot0::emot0::emot0::emot0::emot0:


    _=..i2-=_=..i2-=_=..i2-=_=..i2-=_=..i2-=
     
  2.  
  3. civfanatic

    civfanatic Retired Moderator

    Joined:
    Sep 8, 2009
    Messages:
    4,562
    Likes Received:
    2,526
    Location:
    తెలంగాణ
    Another important thing to note is that both Russia and Brazil have surpassed the UK!

    Long live the BRICs!

    ..=-b/r..=ru+..=i+..0+/

    :emot112:
     
  4. thakur_ritesh

    thakur_ritesh Administrator Administrator

    Joined:
    Feb 19, 2009
    Messages:
    4,434
    Likes Received:
    1,719
    Location:
    Land of the GODS - "Dev Bhomi".
    are these the proposed numbers for next fiscal? india's ppp gdp as of 31st march 2010 should be between 3.9-4.2 t usd and not more depending on which report one would like to rely upon or are these the expected numbers by 31st dec, 2010? can you share a pic of this table and if possible the complete article in economist, if yes please do.
     
    Last edited: Nov 30, 2010
  5. smartindian

    smartindian Regular Member

    Joined:
    Aug 17, 2010
    Messages:
    612
    Likes Received:
    52
    Location:
    Mysore, Karnataka, India
    this is only according to Purchasing power parity(ppp) but when it comes to nominal GDP we are at 12 place , still long way to go
     
  6. civfanatic

    civfanatic Retired Moderator

    Joined:
    Sep 8, 2009
    Messages:
    4,562
    Likes Received:
    2,526
    Location:
    తెలంగాణ
    Are figures are published by Economist Intelligence Unit

    Website: www.eiu.com

    Unfortunately you have to be a registered member to access their data, which I am not.
     
  7. badguy2000

    badguy2000 Respected Member Senior Member

    Joined:
    May 20, 2009
    Messages:
    4,957
    Likes Received:
    613
    it is PPP.

    PPP is useful to measure the real life quality,but meaningless to measure the economy power of one country and its influence on international trade
     
  8. thakur_ritesh

    thakur_ritesh Administrator Administrator

    Joined:
    Feb 19, 2009
    Messages:
    4,434
    Likes Received:
    1,719
    Location:
    Land of the GODS - "Dev Bhomi".
    Shash,

    for the fiscal 2008-09 (31st march) the ppp gdp was between 3.526-3.752t usd as per imf/wb/cia fact book http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP) . in nominal terms we added between 140-160b usd between march'09-march'10 and the conversion rate of nomial to ppp in india's case is around 2.8times, which means in ppp terms we should have added 400-450b usd, so on 31st march 2010 ppp numbers should be around 3.9-4.1 t usd (again depending on the calculations of imf/wb/cia fb). we crossed the 3t usd mark long back.

    i think the point being made by economist is the expected ppp numbers by 31st dec, 2010.
     
  9. civfanatic

    civfanatic Retired Moderator

    Joined:
    Sep 8, 2009
    Messages:
    4,562
    Likes Received:
    2,526
    Location:
    తెలంగాణ
    Guys, if possible I will try to find a scanner sometime today and scan the index, so I can post it here.
     
  10. Yusuf

    Yusuf GUARDIAN Administrator

    Joined:
    Mar 24, 2009
    Messages:
    24,274
    Likes Received:
    11,283
    Location:
    BANGalore
    PPP figure shows the real sense of the value per dollar Indians can buy. But i wait for the day when the third ranking would be based on the nominal GDP figure. That would mean one hell of a financial muscle.
     
  11. thakur_ritesh

    thakur_ritesh Administrator Administrator

    Joined:
    Feb 19, 2009
    Messages:
    4,434
    Likes Received:
    1,719
    Location:
    Land of the GODS - "Dev Bhomi".
    or we make rupee the trading currency of the world :D
     
  12. Yusuf

    Yusuf GUARDIAN Administrator

    Joined:
    Mar 24, 2009
    Messages:
    24,274
    Likes Received:
    11,283
    Location:
    BANGalore
    LOL, Chinese want their currency, we want ours, then euro et all.. one chaos. But i would not mind trading in respective currencies. Dollar is one pain for me because of its fluctuations.
     
  13. Yusuf

    Yusuf GUARDIAN Administrator

    Joined:
    Mar 24, 2009
    Messages:
    24,274
    Likes Received:
    11,283
    Location:
    BANGalore
    TR, the world traded for thousands of years without having a base currency. There were no problems then. Why then did the world move towards dollar as a currency of trade and reserve?
     
  14. thakur_ritesh

    thakur_ritesh Administrator Administrator

    Joined:
    Feb 19, 2009
    Messages:
    4,434
    Likes Received:
    1,719
    Location:
    Land of the GODS - "Dev Bhomi".
    i would love to have badguy's reaction to that post. it would be epic :D
     

Share This Page