BRICs is an organization of the fastest growing major developing economies.
Turkey, Argentina and even Sri Lanka are growing above 8%+. Indonesia is growing faster than India too, from the data on the last quarter.
India's GDP growth meanwhile, is 6.1% and falling rapidly.
India's GDP Growth Slows to 6.1% - WSJ.com
India is also the
only one of the countries mentioned that was recently downgraded by S&P. Due to extreme policy paralysis, an awful budget deficit, along with a massive debt-to-GDP ratio and a growing trade deficit. I.e. Poor economic fundamentals.
Sir I have mentioned 10 main points to compare emerging economies in my post 178, please have a look on those points carefully.
you have raised 3 points here, and I would clarify them as below:
1:
GDP Gorwth rate: please have a look on the number 3 of my post #178. India is far ahead than rest of E7+BRICS except China during last 3 years. only for the quarter ending March 2012, its Growth rate was 6.1%, lowest in many years but it is still far above than Turkey's and Indonesia's average growth rate of last 3 years, please check point 3 of #178.
2:
Credit Ratings Down Grade: India is now on BBB- than BBB of Turkey and Indonesia, does it make big difference, only one step downgrade? and the reason they gave was,
widening budget deficit and account deficit due to growing trade deficit. then here, please compare Indian 'growing' Trade Deficit and Budget Deficit with rest of the world also during last 6 months of financial crisis which has affected the whole world. Im not professional in this field but I do read news about Pakistan as below. but we know that right now indicators of whole world is bad due to the same reasons of debt woes of US/EU.....
Sources said that upon finalisation
of the figures for July-April period, it has been found that the budget deficit had surpassed the upwards revised limit of 4.7 percent of the GDP and had reached at five percent of the GDP, or Rs 1 trillion in 10 months.
http://www.dailytimes.com.pk/default.asp?page=2012\05\22\story_22-5-2012_pg7
(its not just Pakistan which has registered 45% increase in trade deficit during last 10 months and already surpassed even the 'revised' budget deficit level only in 10 months but if we google, we will find most of the economies suffering due to US/EU. even China has registered in slowest growth rate in the first quarter of 2012
)
3: please check
'massive' Debt to GDP ratio of India in points 6 and 7 of my post #178 and compare with rest of emerging economies. India has only around 50% public debt and 15% foreign debt to its GDP
but sir, an economist mainly check Investment to GDP ratio of any country, to see the potential to have high growth in future, in point 4 of #178