please fo to this link and see Pak.economy at the end of FY2007

[Vinod2070]

When the next generation looks back on the India of the final decades of the 20th century, 1991, the year when the reforms started here, may seem a less important year than 1980. For it was in 1980 that the difference between the income of the average American and that of the average Indian began to reduce. Today, an American still earns 75 times the amount that an Indian earns. But if it’s any comfort (and it should be), in 1979, that difference was 105 times. Goldman Sachs predicts that by 2050, an American will earn only about five times as much as an Indian. The last time that happened may have been as far back as 1700.

But it’s a mistake to look at the last 20 years in isolation. What began in 1980 is the reversal of a process that began over 200 years ago. Beginning in the last decades of the 18th century, the economies of the West, led by England, started growing at rates that were unprecedented in history, leaving behind the rest of the world. Driven by mechanisation, innovation, colonisation and human migration, the industrial revolution has shaped the world as we know it today. It’s a story that is unfolding even as we write.

 

[Vinod2070]

Today, an American still earns 75 times the amount that an Indian earns

This was as of 2004. Today the ratio is already ~47 as per the IMF data for 2007 and just ~40 as per the economist data for 2008. So events are moving much faster than the famous Goldman Sachs report predicted.

 

[Vinod2070]

As per the BRIC report, the per capita income of India at the end of 2008 would be $695 while the economist report predicts it to be $1180, something which was supposed to be achieved by 2015. The USA data is pretty much spot on.

The report came out in 2003, so their predictions for the next 12 years have been compressed to just 5 years!

 

[roadrunner]

UAE it is a fifth of size of Pakistan with 35% growth, China is 10 times the size of Pakistan, India is 3 times the size of Pakistan yet they have great growth rate.

Quit smoking so much weed, dude. UAE's economic growth is not 35%! UAE is growing around the same as Pakistan.

The real Gross Domestic Product, GDP, of the UAE is expected to grow by 7.7 per cent this year compared to 9.4 per cent in 2006 and 8.2 per cent in 2005, according the International Monetary Fund, IMF.

UAE - The Official Web Site - News

China is growing faster than Pakistan.

India is not growing faster than Pakistan. Indian growth and Pakistani growth has been approximately similar over the last 4 years, give or take a couple of percent.

India is also around 7 times as large as Pakistan, not 3 times!

 

[Vinod2070]

India is also around 7 times as large as Pakistan, not 3 times!

Just a bit of nitpick.

As per economist country pages report 2008:

Pakistan GDP 2008: $ 157 bn
India GDP 2008: $ 1330 bn

Ratio: 8.47

But I agree with your point that both countries are almost on the same level as far as the per capita income is concerned.

Most Indians are optimistic of the future because of many successes by India Inc. in the recent years. The world believes in the India story. We believe our time has come and if things don't go terribly wrong, we are on our way to take our rightful place in the world.

 

[mujahideen]

Just a bit of nitpick.

As per economist country pages report 2008:

Pakistan GDP 2008: $ 157 bn
India GDP 2008: $ 1330 bn

Ratio: 8.47

But I agree with your point that both countries are almost on the same level as far as the per capita income is concerned.

Most Indians are optimistic of the future because of many successes by India Inc. in the recent years. The world believes in the India story. We believe our time has come and if things don't go terribly wrong, we are on our way to take our rightful place in the world.

I admire the optimism but I would like to remind you that whatever success India has made in recent years is all because of the U.S. They want India to counter China. The U.S. just uses other countries to do their dirty work and when the work is done they throw them away. The U.S. would not want India at the same level its at because the U.S. wants to be the sole superpower in everything. The U.S. doesn't care about democracy or any other thing, they only care about money and protecting their interests, but wont want anyone to be at their level.

 

[Vinod2070]

Thanks for your concern. I believe India will be taking care to maintain her interests as also the interests of the region.

India (and even China) are too far away from even thinking of challenging the USA. The USA investment is partly the reason of the growth for both countries but it is only in the self interest of USA and not for any charity. The Chinese trade surplus with USA itself is more than $ 100 bn. So it is not as simple as it seems.

Each country will act in its self interest whether it is USA, China, India or Pakistan.

 

[Bushroda]

I admire the optimism but I would like to remind you that whatever success India has made in recent years is all because of the U.S.

In what way has US boosted India's success? Kindly enlighten us.

They want India to counter China. The U.S. just uses other countries to do their dirty work and when the work is done they throw them away.

What dirty work has India done so far to serve US interest against China?

 

[Malang]

Quit smoking so much weed, dude.

I don't smoke weed.. though thanks for the concern brother roadrunner.

UAE's economic growth is not 35%! UAE is growing around the same as Pakistan.
The real Gross Domestic Product, GDP, of the UAE is expected to grow by 7.7 per cent this year compared to 9.4 per cent in 2006 and 8.2 per cent in 2005, according the International Monetary Fund, IMF.

UAE - The Official Web Site - News

I posted info from Wiki let me tell you wiki is not a very reliable source therefore I would like to tell you that I have found some info to the contrary..

The UAE's Gross Domestic Product (GDP) grew in nominal terms by 23.5 per cent in 2006 to Dh599 billion, compared to Dh485 billion in 2005, according to a report issued by the Ministry of Economy yesterday
UAE's GDP surges ahead UAE - The Official Web Site - News

UAE's gross domestic production (GDP) increased by 23.4 per cent at current prices in 2006 to amount to Dh599.2 billion when compared to the preceding year, according to the country's central bank
UAE revises 2006 GDP growth to 9.4% UAE - The Official Web Site - News

UAEinteract.com
News & Information on the United Arab Emirates (UAE). Supported by The National Media Council.

China is growing faster than Pakistan.
India is not growing faster than Pakistan. Indian growth and Pakistani growth has been approximately similar over the last 4 years, give or take a couple of percent.

Well Sir I am sorry to inform you that India has grown faster than Pakistan

Here are the 2 graphs from indexmundi.com

India
India - GDP - real growth rate - Historical Data Graphs per Year
Pakistan
Pakistan - GDP - real growth rate - Historical Data Graphs per Year

India Pakistan
1999 5.5 3
2000 6 4
2001 n/a 3.3
2002 4.2 n/a
2003 8.3 5.5
2004 6.2 6.1
2005 8.4 6.6
2006 8.5 6.5


BTW a percentage point of Indian Economy results in a gdp increase of 10-13 bn$ nominally and for Pakistan it means 1.4-1.7bn$..

to put it lightly a percent or 2 makes a lot of difference.. but if Pakistanis and Indians do not see a difference in a couple of percentage points hardly matters to me..

though China undoubtedly has outperformed both of them..

India is also around 7 times as large as Pakistan, not 3 times!

I meant Geoographically.. Economically it is calculated by some members as 8.47 times and Population wise it is 6-7 times larger...

I think both are low income countries and should do more to educate their masses and provide opportunities..


Malang..

 

[Black Stone]

Thanks for your concern. I believe India will be taking care to maintain her interests as also the interests of the region.

India (and even China) are too far away from even thinking of challenging the USA. The USA investment is partly the reason of the growth for both countries but it is only in the self interest of USA and not for any charity.

The Chinese is catching fast and this is a threat if the US doesn't do anything.

The Chinese trade surplus with USA itself is more than $ 100 bn. So it is not as simple as it seems.

lol, no, try $1 Trillion and expanding. We are in a mess if we don't close this gap.

Each country will act in its self interest whether it is USA, China, India or Pakistan.

This is correct.

 

[Vinod2070]

The Chinese is catching fast and this is a threat if the US doesn't do anything.

Catching up from a very low base indeed. It is good that China is taking its rightful place in the world, but the lead of the USA is overwhelming. In per capita terms they are nowhere even close and not going to be for a long-long time.

Same for the really high-end technologies. China is doing well for themselves in many sectors but is nowhere close to the USA.

And USA is also benefitting from the rise of China. It is absurd to think that USA will be sitting on its thumbs if there is a strategic challenger.

lol, no, try $1 Trillion and expanding. We are in a mess if we don't close this gap.

The $ 1 trillion figure is the amount of American securities held by the Chinese and not the annual trade surplus figures!

 

[Neo]

Just a bit of nitpick.

As per economist country pages report 2008:

Pakistan GDP 2008: $ 157 bn
India GDP 2008: $ 1330 bn

Ratio: 8.47

Vinod,
The Economist World Review is merely a prediction, I've been buying the copy since 1995 and its been wrong so many times.

Just for example Indian GDP touched $1 trillion mark in August this year (based on montary fluctuations rather than actual growth), the economy will have to grow by atleast 35% to get anywhere close to $1.3 trillion!!

 

[Neo]

But I agree with your point that both countries are almost on the same level as far as the per capita income is concerned.

Indeed, both countries will cross $1000 GDP pc mark for the first time in FY2007/08 with India being aprrox $60-70 ahead of Pakistan.

Most Indians are optimistic of the future because of many successes by India Inc. in the recent years. The world believes in the India story. We believe our time has come and if things don't go terribly wrong, we are on our way to take our rightful place in the world.

You have all the right to be optimistic, things are looking good for India. If the next government succeeds to extend ongoing reforms and materialises the plans to improve infrastructure you might be able to reach 10% growth from 2012.

 

[Neo]

I admire the optimism but I would like to remind you that whatever success India has made in recent years is all because of the U.S. They want India to counter China. The U.S. just uses other countries to do their dirty work and when the work is done they throw them away. The U.S. would not want India at the same level its at because the U.S. wants to be the sole superpower in everything. The U.S. doesn't care about democracy or any other thing, they only care about money and protecting their interests, but wont want anyone to be at their level.

I beg to differ, I assume you don't know much about Indian economy and its diversity. Outsourcing and IT business may have helped India to get started, current growth is mainly due higher domestic demand and high growth in LSM.

I look with envy in several sectors in India, I'd rather give her credit and try to the job better myself (Pakistan) than to engage a d*ck measuring contest based on assumptions rather than facts.

 

[Proud to be Pakistani]

I beg to differ, I assume you don't know much about Indian economy and its diversity. Outsourcing and IT business may have helped India to get started, current growth is mainly due higher domestic demand and high growth in LSM.

I look with envy in several sectors in India, I'd rather give her credit and try to the job better myself (Pakistan) than to engage a d*ck measuring contest based on assumptions rather than facts.

I agree ...

I am all eyes for this post.