Huff, puff, India will finally be a $2 trillion economy this year

[Matrixx]

even if India grow at 6% next few year it will be great....

6% of $2 trillion is double of 6% of $1 trillion.....that is why India will take even less time to become $3 trillion economy...and so on.

Same thing happen to China....every trillion took even less time....

 

[Abingdonboy]

Most, if not all the poverty reduction schemes in India are not doing that well, they hardly make a dent because middle men and politicians loot.

These issues are not as pronounced as you have made out and steps are being taken to address this. Heard of UDAI/AADHAR? This system will completely cut out he "middle-man" and the resources will go directly to those that need it.

 

[Cyberian]

I think much depends on each state if we talk about poverty eradication. Each state has its own growth, development levet etc etc. This becomes especially evident if one looks at indicators like the HDI, literacy rate or poverty data of each state in India.


All in all, I think that we can eradicate most poverty till the 2030s. But anything can happen in 2 decades, so only God knows it.

India might overtake Russia this year, since I think that Russias growth was quite low, but India had inflation problems as well.
Italy will take some more time though.

The following are IMF figures for 2012:

7) Brazil = $2.40 trillion
8) Russia = $2.02 trillion
9) Italy = $2.01 trillion
10) India $1.85 trillion

List of countries by GDP (nominal) - Wikipedia, the free encyclopedia

Further more, Russia is expecting a 2.4% growth for 2013 while Italy's growth is expecting yet another contraction of -1.8% in 2013.

I think, India's next target most likely will be Brazil in 2014 if the current trends continue. Allahu Alam.

 

[jatt+gutts]

india might have already crossed the 2 trilion mark last year...indias nominal growth was more than 10% inflation + growth rate... real growth is inflation adjusted and based on prices of things in base year.. otherwise india cant grow to 2 trillion by mere 8% growth rate in mere 5 yrs..same with china chinese economy cant b from 1 trillion in 2001 to 8 trillion in 2013 in a decade even if the growth is over 10%....do the maths...


nominal growth rate = inflation + real growth rate.

 

[jatt+gutts]

Suppose in the year 2000, the economy of a country produced $100 billion worth of goods and services based on year 2000 prices. Since we're using 2000 as a basis year, the nominal and real GDP are the same. In the year 2001, the economy produced $110B worth of goods and services based on year 2001 prices. Those same goods and services are instead valued at $105B if year 2000 prices are used. Then:

Year 2000 Nominal GDP = $100B, Real GDP = $100B
Year 2001 Nominal GDP = $110B, Real GDP = $105B
Nominal GDP Growth Rate = 10%
Real GDP Growth Rate = 5%

 

[RoYaL~GuJJaR]

We could have became a $2 Trillion economy 2 years back in 2011, but thanks to corruption ridden Goverment and its policy's in addition with global downturn and fall of rupee, we are 2 years late, But anyway, lets hope we will get rid of Congress early next year and soon will be back on 8-9% growth mark again.

 

[RoYaL~GuJJaR]

India STILL haven't crossed $2 trillion?

Our fiscal revenues are at $2 trillion. Our economy is $8.2 trillion.
Our fiscal revenues alone are bigger than the ENTIRE Indian economy.

India is such a joke.

So, you mean China was Joke until 2004 - 2005 ?

Because china's economy was on verge of becoming a $2 Trillion economy in 2004 ($ 1,93 Trillion, Not,Too Long Ago) and China officially become a $2 Trillion economy in 2005 ( $2,25 Trillion, Just 8 years ago)

List of countries by past and future GDP (nominal)

 

[Psyops]

So, you mean China was Joke until 2004 - 2005 ?

Because china's economy was on verge of becoming a $2 Trillion economy in 2004 ($ 1,93 Trillion, Not,Too Long Ago) and China officially become a $2 Trillion economy in 2005 ( $2,25 Trillion, Just 8 years ago)

List of countries by past and future GDP (nominal)

India won't have the pace of growth we had. When we were a smaller economy we grew around 10% on average because of the low base. India will find it extremely tough to replicate the pace of growth of China. Our economy is alot more open and far more business friendly than India.
Many foreigners say India has an anti-business environment.

 

[perplexed]

The following are IMF figures for 2012:

7) Brazil = $2.40 trillion
8) Russia = $2.02 trillion
9) Italy = $2.01 trillion
10) India $1.85 trillion

List of countries by GDP (nominal) - Wikipedia, the free encyclopedia

Further more, Russia is expecting a 2.4% growth for 2013 while Italy's growth is expecting yet another contraction of -1.8% in 2013.

I think, India's next target most likely will be Brazil in 2014 if the current trends continue. Allahu Alam.

Brazil hardly grew this year ! It was a shock actually !

India won't have the pace of growth we had. When we were a smaller economy we grew around 10% on average because of the low base. India will find it extremely tough to replicate the pace of growth of China. Our economy is alot more open and far more business friendly than India.
Many foreigners say India has an anti-business environment.

many foreigners say China is a place where u can start a business very easily but they dont let u sustain it.. its the other way in India.. Its a torture to start one.. but when it gets going it stays !

^ thats what most economists say !

 

[punit]

2 trillion , does that matter? i mean at all?


what economy?

Monsoon-based agriculture economy or overseas labour remmittance & call centre-based "service" economy?

really! If it matters nothng to you then stop wastng our and ur time and please get lost !

 

[Jade]

India won't have the pace of growth we had. When we were a smaller economy we grew around 10% on average because of the low base. India will find it extremely tough to replicate the pace of growth of China. Our economy is alot more open and far more business friendly than India.
Many foreigners say India has an anti-business environment.

Any credible links/statistics that say that India won't have the pace to grow or is it just another of your brain f@rt.

 

[priti]

India won't have the pace of growth we had. When we were a smaller economy we grew around 10% on average because of the low base. India will find it extremely tough to replicate the pace of growth of China. Our economy is alot more open and far more business friendly than India.
Many foreigners say India has an anti-business environment.

export oreinted economy

 

[punit]

India won't have the pace of growth we had. When we were a smaller economy we grew around 10% on average because of the low base. India will find it extremely tough to replicate the pace of growth of China. Our economy is alot more open and far more business friendly than India.
Many foreigners say India has an anti-business environment.

yeah we all know super powa china

 

[Dushmann]

nothing special. next interesting landmark will be when we overtake UK economy after 3-4 years. then media in India will go crazy and make some stupid breaking news headlines.

 

[Arya Desa]

If Modi comes in power we will be that largest economy by 2020.