India's consumer spending in 2020 will be equal to Germany's total economy

[wiseone2]

For Indians it doesnt matter what the population. One billion people earning the same as 70 million is the same. That is Vedic maths.

Nominal GDP is misleading. There is an issue of converting rupees into Euros
The purchasing power metric is a better gauge of living standards

I pay less than a dollar for haircut. In the West it is 10-15 dollars for the same haircut.

 

[NakedLunch]

Nominal GDP is misleading. There is an issue of converting rupees into Euros
The purchasing power metric is a better gauge of living standards

I pay less than a dollar for haircut. In the West it is 10-15 dollars for the same haircut.

So Indians are richer than Germans? Is that what you are saying? LOL! I really dont know whether to laugh or cry.

 

[wiseone2]

So Indians are richer than Germans? Is that what you are saying? LOL! I really dont know whether to laugh or cry.

Germans have better standard of living. numbers do not explain the difference

 

[liall]

And what about the population difference?

India can only compare itself with China due to its population size. Any other comparison is useless.

China is ahead of India wrt development. Any thing else?

 

[RoadRunner401]

Read the BCG report again
It divides Indian population into many parts

Professional Affluent
Traditional affluent
Urban aspirers
Rural aspirers
Large town next billion
Small town rural next billion
Strugglers

The report didn't say all Indians will have an average family income of 18500 USD in 2020. It is the Household income of Urban and rural aspirers around 35-40 million house holds

India has 250 million+ house holds more than the total population of Pakistan.



And secondly stop quoting 2013 figures

The report’s projections indicate that the average household income in India will triple to $18,500 in 2020

I am making the font bigger, so you can see better, hope fully you can read it now, when one says average they mean average, they don't mean out of the population of billion plus 25 million will have that income.

What does Pakistan have to do with this? Source doesn't mention (PPP) or BCG report, it clearly makes it sounds like average Indian family by 2020 will be earning $18500/yr and that's not true!

 

[Indian wonk]

I am making the font bigger, so you can see better, hope fully you can read it now, when one says average they mean average, they don't mean out of the population of billion plus 25 million will have that income.

What does Pakistan have to do with this? Source doesn't mention (PPP) or BCG report, it clearly makes it sounds like average Indian family by 2020 will be earning $18500/yr and that's not true!

Listen man , you can make allllllllll the fonts big but you should have used your brain .

Its common sense that a country with average family income of 18500 usd nominal not PPP and using the information I have already provided you 260 million households and HFCE of India at 56% a bare back of the envelope calculation will give you India's GDP in nominal terms at 8.58 trillion dollars (nominal ) or 32 trillion dollars (PPP) by 2020 which is wrong.

I'm just saying that India will rival Germany's economy by 2020 +/- 2 years at 3.6 trillion dollars nominal and 11.6 trillion dollars (ppp) not 8.58 trillion nominal and 32 trillion dollars PPP which is ridiculous if you assume average Indian household income at 18500 usd , the jouno didn't edit well in the article .

And I haven't put the BCG report in this thread so go find the report.
Hint-Use Google

And all figures are in USD nominal not PPP. India's current GDP 2016-17 at PPP is already 8.9 trillion dollars.

 

[BetterPakistan]

China is ahead of India wrt development. Any thing else?

Nothing else just a piece of advice from me to compare India only with China in economic statistics.