Economy, India: international comparisons
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Comparisons on multiple-indicators
1991-21: trade, FDI, foreign funds, Indians abroad
The Indian economy vis-à-vis the world, 1991-21: trade, FDI, foreign funds, Indians abroad
1991-21: GDP, Poverty, life expectancy, literacy, urban population
1991-21: GDP, Poverty, life expectancy, literacy, urban population and power consumption in India and South Asia '
2007> 2017: India 5th fastest, behind Ethiopia
February 5, 2018: The Times of India
Vietnam grew rich the fastest in the past 10 years, India finished fifth behind Ethiopia
The combined wealth of people across the world is $215 trillion now — more than 11 times the US GDP. But some countries have grown richer much faster than others. Vietnam added wealth the fastest between 2007 and 2017, although China, a close second, impressed more by continuing to accelerate hard over its already impressive wealth base. India was a distant fifth, behind Ethiopia, while many European countries ended the decade poorer than they were before the start of the financial crisis in 2007. Among rich nations, Australia and New Zealand performed best, almost doubling their wealth in the period.
2014- Q3 of 2017: The growth rate of the Indian economy vis-à-vis China, OECD and the USA
September 19, 2018: The Times of India
i) GDP (in PPP) and working population of India and comparable countries (China, USA, Japan, Russia) in 2016;
ii) The ‘power’ and influence (in the Asia-Pacific region) of the above countries, as well as Pakistan, Bangladesh, Myanmar, Sri Lanka and Nepal.
iii) Productivity and spending on R&D in India, China, USA, Japan, Singapore.
iv) Exports from India, China, USA, Japan, Russia: globally and with Asia-Pacific countries.
All presumably as in 2016.
Global power, economic and strategic, is shifting eastwards. The Asia-Pacific region is home to three of the world’s four largest economies and by 2025 two-thirds of the global population will live here. Despite the US’s waning power, with its diplomatic ties and economic strength, it beats all other Asia-Pacific nations on influence held in the region. A Lowy Institute report on 25 Asia-Pacific countries shows the most influential nations in the region.
As in 2018
See graphic :
GDP growth in India vis-à-vis other major economies, 2018
China’s growth rate, 1961-2018
2016> 2017: Legatum
December 12, 2017: The Times of India
The gap between China and India's prosperity has narrowed by four ranks since 2016.
The Legatum Prosperity Index is an annual ranking developed by the London-based Legatum Institute.
The gap between China and India's prosperity+ has narrowed by four ranks since 2016 and to a quarter of what it was in 2012, according to the latest Legatum Prosperity Index, an annual ranking developed by the London-based Legatum Institute.
The upward trend in India's prosperity is significant in view of the fact that India registered lower GDP growth following demonetisation and implementation of the GST reform in 2017. India closed in on China+ through gains in business environment, economic quality and governance, the report said.
The Legatum Institute applauded India for improving governance by legislation "that increased the ability to challenge regulation in the legal system". The report attributed the gains in business environment and economic quality to improvement in intellectual property rights and massive rise in bank account holders.
The Prosperity Index determined by nine sub-indices — business environment, governance, education, health, safety and security, personal freedom, social capital and natural environment — is reviewed by a panel of academics from various disciplines and reputed schools like London School of Economics, Tufts University, Brookings Institution and University of California, San Diego.
In the 2017 Legatum Prosperity Index, based on 104 different variables analysed across 149 nations, India has significantly improved in the economic quality and education pillars. "More people are now satisfied with their standard of living and household incomes," the report said.
China, according to the report, has lost out "economically as people perceived greater barriers to trade and less encouragement of competition; and educationally through a falling primary school completion rate".
Overall, world prosperity increased in 2017 and now sits at its highest level in the last decade even as the world went through turbulence due to terrorism, war against Islamic State and displacement of massive number of people in West Asia and North Africa. The global prosperity is now 2.6% higher than in 2007. While prosperity improved around the world in 2017, no region grew as fast as Asia-Pacific.
The Asia-Pacific region, which includes China and India, registered greatest improvement in business environment and worst performance towards natural environment.
1990-2016: Trade as percentage of GDP- India, China and the USA
January 22, 2018: The Times of India
Trade as percentage of GDP, India, China and the USA, 1990-2016
One of the measures of globalisation is trade (export and import) as percentage of GDP. In 1990, trade accounted for only 15 per cent of India's GDP, nearly half of China's trade-GDP ratio. But the picture now is very different. In 2016, India's trade had risen to nearly 40 per cent of GDP, whereas it was only 37.05 per cent in the case of China, and this despite a slight drop in trade.
Of course, in the case of China, trade peaked at 63 per cent of GDP before falling again, reflecting a change in the structure of the economy towards being more driven by domestic demand. Wonder what finance minister Arun Jaitley has in store in Budget 2018 to give a leg up to both trade and domestic consumption?
Trillion dollar economies
Add a trillion dollars to the economy
See graphic, 'The number of years it took the USA, China, India and Brazil to add every trillion dollars to their economies '