Next year, India will become one of the world's 10 biggest economies.

Discussion in 'Economy & Infrastructure' started by badguy2000, May 16, 2012.

  1. badguy2000

    badguy2000 Respected Member Senior Member

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    well, I found another "india shining" articel on rediff again.
    it predicts world 10 biggest economy in the coming 3 years.

     
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  3. Tianshan

    Tianshan Regular Member

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    Last edited: May 16, 2012
  4. Koovie

    Koovie Regular Member

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    last year we were the 9th largest economy by GDP, they havent even mentioned that in the article. However, I hope our politicians will act before the next elections take place...
     
  5. badguy2000

    badguy2000 Respected Member Senior Member

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    I am always more interested in its comments than the article itself.
     
  6. ejazr

    ejazr Stars and Ambassadors Stars and Ambassadors

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    Well there seems to be a mistake in the GDP figures being quoted

    2011 estimate is around 1.8 trillion with India at no.9

    India is expected to become a 2 trillion dollar economy sometime in 2012-13
     
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  7. linking_park

    linking_park Regular Member

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    Use newest exchange rate( 54R:$1), India GDP only 1.45 trillion in 2011-2012 fiscal.
    That is why it only rank 11th now.

    And I can hardly believe that it can double in 3 years.




    1 United States &1000000001509402500000015,094,025
    2 China &100000000072981470000007,298,147n2
    3 Japan &100000000058694710000005,869,471
    4 Germany &100000000035770310000003,577,031
    5 France &100000000027763240000002,776,324
    6 Brazil &100000000024929080000002,492,908
    7 United Kingdom &100000000024175700000002,417,570
    8 Italy &100000000021987300000002,198,730
    9 Russia &100000000018504010000001,850,401
    10 Canada &100000000017368690000001,736,869
    11 Spain &100000000014935130000001,493,513
    12 Australia &100000000014882210000001,488,221
     
    Last edited: May 16, 2012
  8. cir

    cir Senior Member Senior Member

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    These so-called predictions are always far from the truth and are therefore useless。

    Take China as an example。 Its 2012 GDP will reach 8.8 trillion US dollars if not more。2015 GDP is very likely to surpass 13 trillion dollars。

    As for the US,its 2015 GDP will be under 17 trillion。
     
  9. badguy2000

    badguy2000 Respected Member Senior Member

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    in the coming several , exchange rate may influence nominal GDP more than real growth...

    some day, when more and more countries agree to settle with RMB, instead of USD, dominance of USD will end and real purchase power of USA will shrink rapidly.
     
  10. Apollyon

    Apollyon Führer Senior Member

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    Increase of 4.2 Trillion (taking your figure of 8.8 trillion in 2012) in 3 Years ... :shocked:

    btw have a look at this :

    reality of Chinese Economy .... :rofl:
     
  11. Hari Sud

    Hari Sud Senior Member Senior Member

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    Indian economy

    We are comparing apples and oranges.

    Whereas Indian economy quoted in the lead article is nominal gdp the Chinese economy is quoted from PPP (Purchase Power Parity).

    On a common basis that is PPP indian economy is $4.4 trillion and Chinese econmy at $10 or 11 trillion by all IMF, World Bank and CIA Factbook -2011-12 data.

    Indian economy has a third place in the world order.

    So relax guys Indian Economy has done well.
     
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  12. asianobserve

    asianobserve Elite Member Elite Member

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    Keep on dreaming.... :pound:
     
  13. Hari Sud

    Hari Sud Senior Member Senior Member

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    The two most common ways to measure GDP per capita are nominal and purchasing power parity (abbreviated PPP). Nominal is an attempt at an absolute measure, a sort of immovable standard that remains the same from country to country. It is the original concept of GDP. In contrast, PPP is an attempt at a relative measure, taking factors of each country into consideration in order to put a number on a person’s standard of living within that country.
     
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  14. linking_park

    linking_park Regular Member

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    PPP? Who use PPP for global comparision?
    You use PPP to attract FDI? You use PPP to import oil?

    And the article is about nominal GDP.
    With newest exchange rate, India GDP of 2012 is $1.45 billion (78.8 trillion rupee with 54.3R/1Dollor), And China is $7.48 billion( 47.2 trillion RMB with 6.3RMB/1dollor).

    China GDP is 5 times of India.
     
    Last edited: May 16, 2012
  15. Mad Indian

    Mad Indian Proud Bigot Veteran Member Senior Member

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    Chinese GDP is five times that of india only on paper. What is nominal GDP again?-Paper-nothing more.

    The real measure of GDP is in PPP terms, by which Chinese GDP is ~3 times that of Indian GDP. Dont compare what is convenient for you;)
     
  16. badguy2000

    badguy2000 Respected Member Senior Member

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    before you replies the above ,you should have look into more data about PPP and nominal GDP ..
     
  17. ejazr

    ejazr Stars and Ambassadors Stars and Ambassadors

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    Not sure where you are picking up your numbers from Indian GDP is estimated in 2012-13 to be around 101 trillion INR, which is close to USD 1.86 trillion at the current exchange rate

    Even if the Rupee drops to 60/$1, it would be around 1.68 trillion USD.

    Now you do the math and the ranking.
     
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  18. linking_park

    linking_park Regular Member

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    There is something call "google".
    And can you believe India GDP will reach $2.9 trillion in three years when it only $1.6 trillion today?

    Don't forget India ecomomic data are not optimistic now. The industry output even decline 3.5% in March.
     
  19. badguy2000

    badguy2000 Respected Member Senior Member

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    it usually means that average wage of CHinese might be about 4-5 times that of Indian,because CHinese population is just a bit more than India's.

    BTW,

    Hongkong's per nominal GDP is 32K USD, the average wage of Hongkongese is about 10K HKD(1.3K USD)/month.

    Taiwanese per nominal GDP is about 20K USD, the average wage of Taiwanese is about 43K NTD( 1K USD)/month

    PRC's per nominal GDP is about 5.5K USD, the average wage of PRC is about 2-3K RMB( 0.3-0.5K USD)/month

    India's per nominal GDP is about 1.2K USD, then how about the average wage of India?
     
    Last edited: May 17, 2012
  20. ejazr

    ejazr Stars and Ambassadors Stars and Ambassadors

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    The figures I quoted are from the economic survey released in April. Not madeup figures.

    The topic was wether India is os isn't in the top 10 economies. You dont need 2.9 trillion dollar economy but just be in the top 10. With 1.8 trillion dollar now, it already is in the top 10.
     
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  21. Mad Indian

    Mad Indian Proud Bigot Veteran Member Senior Member

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    :facepalm: As I said, Nominal GDP is not the correct measure of GDP. But if you want to believe Nominal GDP is more important accurate measure of measuring GDP, then Suit yourself:wave:
     

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