No, the nominal GDP figures you see thrown around are real GDP, adjusted for inflation. The gap between PPP GDP and nominal GDP is introduced by exchange rates and inflation of domestic prices. At this time, most countries' PPP and nominal gap are closing as the value of the dollar is falling against almost all other global currencies and due to the fact that inflation in the US is significantly lower than developing countries.
PS: The gap between PPP and nominal GDP is the largest determinant to weighing the value of a currency. The fact that India has a smaller gap (but still exists because of the cheap labor and environmental costs of producing some basic goods vs-a-vs the global market) than China means that the Rupee is more fairly weighed than the Yuan.