India On Track To Knock Britain Out Of World's Top 5 Economies

[Fireurimagination]

It definitely has huge potential, no doubt. What they need to do, for starters, is close the tax loopholes and increase the number of taxpayers.

That is what exactly Modi is trying to do with GST, demonetization, moving towards a cashless economy and much much more. As number of tax payers increase I hope tax rates will also come down giving a big push to the enhanced buying thus further expanding the markets. Indians tend to save rather than spurge which is a big bottle neck in growth of the markets.

 

[Vazir]

In fact 1/5th of youth population in the world will be an Indian and majority from middle class+upper middle class people in a decade compared to ageing population in Russia and Japan..



There are many indicators and GDP PPP india currently stands at No.3 and largest growth rate in a major economy.Majority of major economies in the world are in recession or stagnant growth or downward growth rate and india is the only country showing upward trend and keeping above 7.0% momentum.There are still lot of things to get improved, as one cant expect 1.25 billion people rich over night or even a decade....

Better. I was only making sure you were considering other things too.

 

[Mr.Nair]

don't forget Indonesia it's doing good.

Yes they are estimated to be 5.1% in 2017 and keeping growth rate around 5% for many years and is more than 940 billion dollar economy

 

[ashok321]

BMW sold just 7861 cars in india, but sold 37,487 cars in China last year.
Indians have negligible purchasing power.
Modi,s bragging notwithstanding.

 

[Tshering22]

Knocking UK out of the top 5 is not an achievement, considering that we are 1.25 billion and UK is only 60 million in its total population and doesn't have a tenth of the resources that we have.

We have a lot of work to do before we can actually claim something serious.

 

[Vazir]

That is what exactly Modi is trying to do with GST, demonetization, moving towards a cashless economy and much much more. As number of tax payers increase I hope tax rates will also come down giving a big push to the enhanced buying thus further expanding the markets. Indians tend to save rather than spurge which is a big bottle neck in growth of the markets.

Exactly. But even though demonetization was a good idea, it's execution was terrible. Anyways, it is done and I hope it will prove effective. But there's still a lot to do.

 

[Mr.Nair]

BMW sold just 7861 cars in india, but sold 37,487 cars in China last year.
Indians have negligible purchasing power.
Modi,s bragging notwithstanding.

India export more automobiles than china, even though china is the largest producer, Mr.False flagger...

 

[Blue Marlin]

well its bound to happen when you have over a billion people who earn a pittance. india has a long way to go.

 

[Vazir]

well its bound to happen when you have over a billion people who earn a pittance. india has a long way to go before they can be declared shupa powa.

What you really need are some badass banks with fairly cheap interest rates and a fairly strong union. That, combined with low corporate/business taxes, will serve India in terms of growth very well. Top it off with cutting some slack to middle class in terms of tax.

 

[Jugger]

We need to quickly knock the other 4 countries and take the top spot.
We deserve it.

 

[Vazir]

We need to quickly knock the other 4 countries and take the top spot.
We deserve it.

I don't think you can ever cross or even match the US. Unless the oil runs out and India gets themselves some electric cars before that.

 

[Blue Marlin]

What you really need are some badass banks with fairly cheap interest rates and a fairly strong union. That, combined with low corporate/business taxes, will serve India in terms of growth very well. Top it off with cutting some slack to middle class in terms of tax.

badass banks............were (london) the financial capital of the world.....
low interest rates...... its less than 1%
low taxes.........have you not heard of an ofshore bank account?

 

[Vazir]

badass banks............were (london) the financial capital of the world.....
low interest rates...... its less than 1%
low taxes.........have you not heard of an ofshore bank account?

Ofc you also need good resources to do that. Like, UK is good but it can't be as good as India with some big banks and that vast amount of resources. With that, India can certainly give China a run for their money (so to speak).

 

[Tom M]

It definitely has huge potential, no doubt. What they need to do, for starters, is close the tax loopholes and increase the number of taxpayers.

When a legislation is made to tax multimillionaire farmers/agriculturists on their agricultural income, (which is tax exempted at present) the income tax paying population will jump drastically from 30 Million to something roughly around 60-80 Million.

 

[Mr.Nair]

I don't think you can ever cross or even match the US. Unless the oil runs out and India gets themselves some electric cars before that.

Any think can happen and look at projections, though such long projections cannot accurately predicated

http://www.pwc.com/world2050