What kind of BS is this?
1.25 billion people in India are earning and spending in rupees. India is already one of the cheapest places to live in, if not the cheapest. $20 billion dollars worth of jets over the period of 7-8 years is not even a valid argument.
Nominal GDP is a good measure for import and export of a country. India's domestic consumption is more than that.
Funny that PPP is never a useless measure when China becomes the largest "real" economy.
60%+ of USA's GDP is service sector,such as virtual rent, wall street poisonous bond,overpriced lawsuit service and medical service...etc
60+% of India GDP is service sector, such as grocery,hair-cut,call center...etc
however,only 40% of CHina's GDP is service sector.
most of CHina's GDP is manufacturing,mining,construction and farming,which is decisive sector to measure one country's economy might.
that is why auto sale,concrete sale,house sale and almost all sales(even film sale) in CHina has surpasssed those in USA while CHina's nominal GDP is only 60% of USA's
that is also why india's auto sale is only 1/10 of CHina's while india's GDP is 1/5 of CHina's
india's steel sale is only 1/10 of CHina's
india's AC sale is also only 1/10 of CHina's
in a word,
GDP overmeasures the economy might of USA and India ,which include too many "unhelpful" service sectors into GDP as possible as they can;
and it underemeasures the economy might of CHina,which excludes soo many service sectors from GDP as possible as it can.