IndianHawk
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There is no correct way to measure GDP. That is why it is calculated in different ways.PPP is not a correct way to measure GDP. It has several flaws which will take a lot of space for me to elaborate. But today no serious economics student uses PPP as barometer of GDP. PPP per capita has some uses though. India is likely to be 15 Trillion economy by 2040 as GDP will grow by 6% at max. That said 15 trillion is serious economic heft but far behind China whose nominal GDP will be 50 Trillion by then. Infact Chinese nominal GDP will be more than India and US combined. The main reason is lack of indigenization in weapons development and energy. Blame generals our corrupt army generals, babus, scientists and politicos for this sad state of affairs.
PPP is more accurate measure if external trade (hence use of dollars for trade) is low. Like in case of India .
Measuring GDP of India at nominal exchange rate disregard internal Indian economy which transacts in rupees only.
That being said PPP to has faults.