Economy, India: international comparisons

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=PPP=
 
==World's 3rd-largest economy by 2011==
 
''' India became 3rd-largest economy in 2011 from 10th in 2005 '''
 
  
[http://timesofindia.indiatimes.com/india/India-became-3rd-largest-economy-in-2011-from-10th-in-2005/articleshow/34416429.cms  PTI] | Apr 30, 2014
 
  
India emerged as the world's third-largest economy in 2011.
 
  
"The economies of Japan and the UK became smaller compared to the US, while Germany increased slightly, France and Italy remained the same," according to data released on Wednesday by the International Comparison Program (ICP), hosted by the Development Data Group at the World Bank Group.
+
=Comparisons on multiple-indicators=
 +
==1991-21: trade, FDI, foreign funds, Indians abroad==
 +
[[File: The Indian economy vis-à-vis the world, 1991-21, trade, FDI, foreign funds, Indians abroad.jpg| The Indian economy vis-à-vis the world, 1991-21: trade, FDI, foreign funds, Indians abroad <br/> From: [https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2021%2F02%2F02&entity=Ar00703&sk=F7D23A54&mode=image  February 2, 2021: ''The Times of India'']|frame|500px]]
  
"The relative rankings of the three Asian economies — China, India, and Indonesia — to the US doubled, while Brazil, Mexico and Russia increased by one-third or more," the report said. The world produced goods and services worth over $90 trillion in 2011 and that almost half of the total output came from low and middle-income countries, it said.
 
  
According to the major findings of the ICP, six of the world's 12 largest economies were in the middle-income category (based on the World Bank's definition).
+
'''See graphic''':
  
When combined, the 12 largest economies accounted for two-thirds of the world economy and 59 per cent of the population, it said.
+
'' The Indian economy vis-à-vis the world, 1991-21: trade, FDI, foreign funds, Indians abroad ''
  
The purchasing power parities (PPPs)-based world GDP amounted to $90,647 billion, compared with $70,294 billion measured by exchange rates, it said, adding that the share of middle-income economies in global GDP is 48 per cent when using PPPs and 32 per cent when using exchange rates.
+
==1991-21: GDP, Poverty, life expectancy, literacy, urban population==
 +
[[File: 1991-21, GDP, Poverty, life expectancy, literacy, urban population and power consumption in India and South Asia.jpg| 1991-21: GDP, Poverty, life expectancy, literacy, urban population and power consumption in India and South Asia <br/> From: [https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2021%2F02%2F02&entity=Ar01209&sk=EC5480F6&mode=image  February 2, 2021: ''The Times of India'']|frame|500px]]
  
The six largest middle-income economies — China, India, Russia, Brazil, Indonesia and Mexico — account for 32.3 per cent of world GDP, whereas the six largest high-income economies — US, Japan, Germany, France, UK and Italy — account for 32.9 per cent, the report said.
 
  
Asia and the Pacific, including China and India, account for 30 per cent of world GDP, Eurostat-OECD 54 per cent, Latin America 5.5 per cent (excluding Mexico, which participates in the OECD and Argentina, which did not participate in the ICP 2011), Africa and Western Asia about 4.5 per cent each.
+
'''See graphic''':
  
"China and India make up two-thirds of the Asia and the Pacific economy, excluding Japan and South Korea, which are part of the OECD comparison. Russia accounts for more than 70 per cent of the CIS, and Brazil for 56 per cent of Latin America. South Africa, Egypt, and Nigeria account for about half of the African economy," said the report.
+
'' 1991-21: GDP, Poverty, life expectancy, literacy, urban population and power consumption in India and South Asia '''
  
"At 27 per cent, China now has the largest share of the world's expenditure for investment (gross fixed capital formation) followed by the US at 13 per cent.
+
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India, Japan and Indonesia follow with 7 per cent, 4 per cent, and 3 per cent, respectively," the report said.
+
=Economic growth=
 +
== 2007> 2017: India 5th fastest, behind Ethiopia==
 +
[https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2018%2F02%2F04&entity=Ar02305&sk=5E7C7301&mode=text  February 5, 2018: ''The Times of India'']
  
China and India account for about 80 per cent of investment expenditure in the Asia and the Pacific region.
+
[[File: State of the world's wealth, biggest gainers and top losers, February 2018.jpg|State of the world's wealth, biggest gainers and top losers, February 2018 <br/> From: [https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2018%2F02%2F04&entity=Ar02305&sk=5E7C7301&mode=text  February 5, 2018: ''The Times of India'']|frame|500px]]
  
The report said low-income economies, as a share of world GDP, were more than two times larger based on PPPs than respective exchange rate shares in 2011.
 
  
Yet, these economies accounted for only 1.5 per cent of the global economy, but nearly 11 per cent of the world population.
+
''Vietnam grew rich the fastest in the past 10 years, India finished fifth behind Ethiopia''
  
Roughly 28 per cent of the world's population lives in economies with GDP per capita expenditure above the $13,460 world average and 72 per cent are below that average.
+
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.
  
The approximate median yearly per capita expenditure for the world — at $10,057 — means that half of the global population has per capita expenditure above that amount and half below, it said.
+
==2014-17==
 +
[[File: 2014- Q3 of 2017- The growth rate of the Indian economy vis-à-vis China, OECD and the USA.jpg|2014- Q3 of 2017: The growth rate of the Indian economy vis-à-vis China, OECD and the USA <br/> From [https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2018%2F01%2F30&entity=Ar02611&sk=AB92F888&mode=text '' The Times of India ''] |frame|500px]]
  
The five economies with the highest GDP per capita are Qatar, Macao, Luxembourg, Kuwait and Brunei.
+
'''See graphic:'''
  
The five economies with highest actual individual consumption per capita are Bermuda, US, Cayman Islands, Hong Kong and Luxembourg.
+
''2014- Q3 of 2017: The growth rate of the Indian economy vis-à-vis China, OECD and the USA''
  
The world average actual individual consumption per capita is approximately $8,647, it said.
+
=Economic influence=
 +
==2016==
 +
[https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2018%2F09%2F19&entity=Ar00200&sk=A07D5091&mode=text  September 19, 2018: ''The Times of India'']
 +
 
 +
 
 +
[[File: GDP (in PPP) and working population of India and comparable countries (China, USA, Japan, Russia) in 2016.jpg|i) GDP (in PPP) and working population of India and comparable countries (China, USA, Japan, Russia) in 2016; <br/> ii) The ‘power’ and influence (in the  Asia-Pacific region) of the above countries, as well as Pakistan, Bangladesh, Myanmar, Sri Lanka and Nepal. <br/> iii) Productivity and spending on R&D in India, China, USA, Japan, Singapore. <br/> iv) Exports from India, China, USA, Japan, Russia: globally and with Asia-Pacific countries. <br/> All  presumably as in 2016. <br/> From: [https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2018%2F09%2F19&entity=Ar00200&sk=A07D5091&mode=text  September 19, 2018: ''The Times of India'']|frame|500px]]
 +
 
 +
'''See graphic''':
 +
 
 +
''i) GDP (in PPP) and working population of India and comparable countries (China, USA, Japan, Russia) in 2016; <br/> ii) The ‘power’ and influence (in the  Asia-Pacific region) of the above countries, as well as Pakistan, Bangladesh, Myanmar, Sri Lanka and Nepal. <br/> iii) Productivity and spending on R&D in India, China, USA, Japan, Singapore. <br/> iv) Exports from India, China, USA, Japan, Russia: globally and with Asia-Pacific countries. <br/> 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.
 +
 
 +
=GDP growth=
 +
==As in 2018==
 +
[[File: GDP growth in India vis-à-vis other major economies, 2018; China’s growth rate, 1961-2018.jpg| GDP growth in India vis-à-vis other major economies, 2018 <br/> China’s growth rate, 1961-2018  <br/> From: [https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2019%2F09%2F05&entity=Ar00400&sk=14372EB1&mode=image  Sep 5, 2019: ''The Times of India'']|frame|500px]]
 +
 
 +
''' See graphic ''':
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 +
'' GDP growth in India vis-à-vis other major economies, 2018 <br/> China’s growth rate, 1961-2018 ''
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[[Category:China|EECONOMY, INDIA: INTERNATIONAL COMPARISONSECONOMY, INDIA: INTERNATIONAL COMPARISONS
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=Prosperity Index =
 +
==2016> 2017: Legatum ==
 +
[https://timesofindia.indiatimes.com/business/india-business/india-reduces-gap-with-china-on-prosperity-study/articleshow/62031094.cms December 12, 2017: ''The Times of India'']
 +
 
 +
[[File: Score in Legatum Prosperity Index, India, Pakistan, and other countries.jpg|Score in Legatum Prosperity Index, India, Pakistan, and other countries <br/> From: [https://timesofindia.indiatimes.com/business/india-business/india-reduces-gap-with-china-on-prosperity-study/articleshow/62031094.cms December 12, 2017: ''The Times of India'']|frame|500px]]
 +
 
 +
'''HIGHLIGHTS'''
 +
 
 +
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.
 +
 
 +
=Trade=
 +
==1990-2016: Trade as percentage of GDP- India, China and the USA==
 +
[https://timesofindia.indiatimes.com/business/india-business/toi-budget-2018-special-indias-economy-is-more-globalised-than-china-us/articleshow/62600713.cms  January 22, 2018: ''The Times of India'']
 +
 
 +
[[File: Trade as percentage of GDP, India, China and the USA, 1990-2016.jpg|Trade as percentage of GDP, India, China and the USA, 1990-2016 <br/> From: [https://timesofindia.indiatimes.com/business/india-business/toi-budget-2018-special-indias-economy-is-more-globalised-than-china-us/articleshow/62600713.cms  January 22, 2018: ''The Times of India'']|frame|500px]]
 +
 
 +
'''See graphic''':
 +
 
 +
''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==
 +
[[File: The number of years it took the USA, China, India and Brazil to add every trillion dollars to their economies.jpg|The number of years it took the USA, China, India and Brazil to add every trillion dollars to their economies <br/> From: [https://epaper.timesgroup.com/olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2019%2F07%2F10&entity=Ar00603&sk=D353D67B&mode=image  July 10, 2019: ''The Times of India'']|frame|500px]]
 +
 
 +
See graphic, 'The number of years it took the USA, China, India and Brazil to add every trillion dollars to their economies  '
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Contents

[edit] Comparisons on multiple-indicators

[edit] 1991-21: trade, FDI, foreign funds, Indians abroad

The Indian economy vis-à-vis the world, 1991-21: trade, FDI, foreign funds, Indians abroad
From: February 2, 2021: The Times of India


See graphic:

The Indian economy vis-à-vis the world, 1991-21: trade, FDI, foreign funds, Indians abroad

[edit] 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
From: February 2, 2021: The Times of India


See graphic:

1991-21: GDP, Poverty, life expectancy, literacy, urban population and power consumption in India and South Asia '

[edit] Economic growth

[edit] 2007> 2017: India 5th fastest, behind Ethiopia

February 5, 2018: The Times of India

State of the world's wealth, biggest gainers and top losers, February 2018
From: 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.

[edit] 2014-17

2014- Q3 of 2017: The growth rate of the Indian economy vis-à-vis China, OECD and the USA
From The Times of India

See graphic:

2014- Q3 of 2017: The growth rate of the Indian economy vis-à-vis China, OECD and the USA

[edit] Economic influence

[edit] 2016

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.
From: September 19, 2018: The Times of India

See graphic:

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.

[edit] GDP growth

[edit] As in 2018

GDP growth in India vis-à-vis other major economies, 2018
China’s growth rate, 1961-2018
From: Sep 5, 2019: The Times of India

See graphic :

GDP growth in India vis-à-vis other major economies, 2018
China’s growth rate, 1961-2018

[edit] Prosperity Index

[edit] 2016> 2017: Legatum

December 12, 2017: The Times of India

Score in Legatum Prosperity Index, India, Pakistan, and other countries
From: December 12, 2017: The Times of India

HIGHLIGHTS

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.

[edit] Trade

[edit] 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
From: January 22, 2018: The Times of India

See graphic:

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?

[edit] Trillion dollar economies

[edit] Add a trillion dollars to the economy

The number of years it took the USA, China, India and Brazil to add every trillion dollars to their economies
From: July 10, 2019: The Times of India

See graphic, 'The number of years it took the USA, China, India and Brazil to add every trillion dollars to their economies '

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