India becomes world's 3rd biggest economy

[Bengal_Tiger]

India displaces Japan to become third-largest world economy in terms of PPP: World Bank

By ET Bureau | 30 Apr, 2014, 06.59AM IST


NEW DELHI: India has displaced Japan to become the world's third biggest economy in terms of purchasing power parity (PPP), according to a World Bank report released on Tuesday.

The 2011 round of the bank's International Comparison Program (ICP) ranked India after the US and China. The last survey in 2005 had placed the country on 10th place.

PPP is used to compare economies and incomes of people by adjusting for differences in prices in different countries to make a meaningful comparison.
India's share in World GDP in terms of PPP was 6.4% in 2011 compared with China's 14.9% and the US' 17.1%, the latest ICP showed. The survey covered 199 economies.


"The United States remained the world's largest economy, but it was closely followed by China when measured using PPPs



India was now the world's third largest economy, moving ahead of Japan," the report said.

Despite high inflation in India in recent years, prices in the country are still well below those in advanced economies, explaining the higher raking for India on the PPP measure. But according to the International Monetary Fund (IMF), India's economy is 12th largest and only about a third of Japan's in terms of absolute unadjusted dollars. "The economies with the lowest prices are either in Africa or Asia and the Pacific and include India, which has the third-largest economy," the report noted.

"Because economies estimate their GDP at national price levels and in national currencies, those GDPs are not comparable. To be compared, they must be valued at a common price level and expressed in a common currency," the report said, giving out the rationale for the PPP adjustments.








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[Bengal_Tiger]

1. The growth of the Asian economies such as India and China is good for Asia and the non-western world in general. It by default decreases the economic and thus overall power of the west.


2. A stronger India increases the power-gap between India and Pakistan both of whom are vying for influence in Afghanistan, with India winning the popularity contest there.

India has pumped in billions of dollars to Afghanistan, is providing military training and will fund Afghan arms purchases.


3. Indians however need to sort out some of the massive poverty and human suffering in that country. Both Sri Lanka and Bangladesh whilst having smaller economies have fairer societies with less inequality and far less poverty than India.

[Da Bannu Mazdigar]

1. The growth of the Asian economies such as India and China is good for Asia and the non-western world in general. It by default decreases the economic and thus overall power of the west.


2. A stronger India increases the power-gap between India and Pakistan both of whom are vying for influence in Afghanistan, with India winning the popularity contest there.

India has pumped in billions of dollars to Afghanistan, is providing military training and will fund Afghan arms purchases.


3. Indians however need to sort out some of the massive poverty and human suffering in that country. Both Sri Lanka and Bangladesh whilst having smaller economies have fairer societies with less inequality and far less poverty than India.

Sri lanka yes but Bangladesh?

Bangladesh govt is doing well but Even today and after so much terrorism in Both India and Pakistan.Both pakistan and India are light years ahead of Bangladesh in poverty statistics

[Toramana]

That is a good news. The rise of Asia will keep Western hegemonic powers especially US in check.

[Bengal_Tiger]

That is a good news. The rise of Asia will keep Western hegemonic powers especially US in check.

The past 5 centuries have seen the dominance of the west. Chomsky and others date it from 1492 the year when the last Muslim kingdom of Spain fell and Colombus "discovered" America.

However western power has been steadily declining in the past century with the end of the British and French Empires and now the de facto American "empire". Power and economic strength is being restored to Asia where it has traditionally resided for many a century.

East Africa (Egypt, Nubia, Sudan), the middle east (Babylonians, Sumerians), south Asia (Indic civilizations) and China have been civilized centuries, millenia before the comparative newbies of Europe. They are older civilizations of a higher pedigree and lineage.

[Toramana]

Sri lanka yes but Bangladesh?

Bangladesh govt is doing well but Even today and after so much terrorism in Both India and Pakistan.Both pakistan and India are light years ahead of Bangladesh in poverty statistics

Despite the marginalization of Bangalis in the so-called Pakistan till 1971 and the dire condition in which it was immediately after its freedom from the samraj of Ranjit Singh and its limited territory relative to the population size, the performance of Bangladesh has been impressive. It is ahead of Pakistan in many areas of human development. Its GDP growth is around 6.5% at least twice as Pakistan's GDP growth and the overall direction is positive. It is one of the few Muslim countries along with Turkey, Malaysia, and Indonesia, about which there can be some hope.

[Toramana]

1. The growth of the Asian economies such as India and China is good for Asia and the non-western world in general. It by default decreases the economic and thus overall power of the west.


2. A stronger India increases the power-gap between India and Pakistan both of whom are vying for influence in Afghanistan, with India winning the popularity contest there.

India has pumped in billions of dollars to Afghanistan, is providing military training and will fund Afghan arms purchases.


3. Indians however need to sort out some of the massive poverty and human suffering in that country. Both Sri Lanka and Bangladesh whilst having smaller economies have fairer societies with less inequality and far less poverty than India.

I agree. Proportionate to its economic might and size, India will have an increasing regional and global clout. That will keep the spoiled child (Pakistan) in check. Both China and India are rational/mature countries that can sort out their differences peacefully. They will rather like to exploit the mutual trade potential.

[Karachi]

I think all countries in south asia need to even out their wealth. There is still a lot of poverty in our part of the world that needs to be solved.

[Bengal_Tiger]

1. Bangladesh has better HDI than India or Pakistan in some ways.

[IMG]Despite slower economic growth, Bangladesh has achieved more rapid progress in human development than its neighbours India and Pakistan. Gender equality is a key factor in its success. The Bangladesh experience shows that gender equality is also key for the new development agenda[/IMG]

Yet, average life expectancy is 69 years, compared to 65 years in India and 65.7 in Pakistan, and well above the South Asian average of 66 years. 96% of children are immunised (in Bangladesh) against diphtheria and measles compared to 80% of children in Pakistan, and 72% for diphtheria and 74% for measles in India.

The under-five mortality rate is 46 deaths per 1000 in Bangladesh compared to 61 per 1000 in India and 72 per 1000 in Pakistan. And according to Unicef, the literacy rate for young women aged 15-24 is 78% in Bangladesh, compared to 74% in India and 61% in Pakistan.

This reflects the country’s success in particular in achieving a higher level of girls’ secondary education (30.8% compared to 26.6% in India and 18.3% in Pakistan), and significantly higher labour force participation. According to the ILO, Bangladesh had a female labour force participation rate of 36% in 2010 compared to 22.3% in India and 21.5% in Pakistan. Bangladesh has more female seats in parliament at 19.7% than India at 11%. Similarly, Bangladesh ranked 86 compared to India’s rank at 105 and Pakistan’s at 134 in the World Economic Forum’s Global Gender Gap Index in 2012.

http://www.dhakatribune.com/long-form/2013/sep/16/what-bangladesh-can-teach-world#sthash.6WcnXgGS.dpuf

Our HDI (Human Development Index) is growing at a faster rate than Pakistan's. 1980 was 9 years after the war of independence after the country was totally destroyed with around 300-500,000 people slaughtered according to some (the 3 million figure is not factual) and Bangladesh left with nothing in its reserves. Then from 1980 we picked up.




Bangladesh also gets far less foreign aid than Pakistan which receives billions from the US and billions from Saudi.

Saudi has historically given more aid to Pakistan than any other country on earth.

Our economic growth is primarily being generated by internal entrepreneurs and businessmen and companies such as Bashundara, Walton etc.



Bangladeshi made smartphone, made by Walton BD.

Walton Android Mobile TVC - YouTube

Walton BD (Bangladeshi company) phone ad.

[Karachi]

^ I agree. Bangladesh is defiantly a self built nation. It's a very good example

Pakistan has a lot of potential, but because of the so many problems in Pakistan, I dont think it will ever grow or be a stable nation. Most of these problems are self made, Pakistanis love to blame outsiders for even the smallest of things, yet if we look deeply, all the horrible things Pakistan is going through are because of themselves and their stupid ISI/military policies. It really has become a beggar of a nation. Even sensible Pakistanis know this in their heart.

[Bengal_Tiger]

2. So we are better than India and Pakistan in many HDI indicators and have less poverty as well as no rural slavery a.k.a feudalism as in Pakistan, particularly in Sindh.

I do not want to cite too many negative facts about Pakistan but let us just leave it at that.


3. Sri Lanka is the real economic star of south Asia - not Bangladesh or India.

Anyway a "certain" someone is as usual trying to derail the topic.

This is about India.

India has replaced Japan in terms of GDP by PPP ranking. PPP ranking is not the main form of ranking used, nominal GDP is.

The Indian economy will only continue to grow and increase. In fact Bihar (even derided on this forum here with Biharis being ridiculed) which has long been seen as one of the most backwards states in the Indian Union is now achieving a lot of growth. The Indian economic market is bigger than the entire EU i.e. a massive consumer base.

I personally hope for lots of Indian-Bangladeshi trade and a resolution to all bilateral issues between the two states including water issues, maritime territory (we have taken India to court) and also Bangladesh not being used for anti-Indian terrorism as was done by previous pro-Pakistan regimes in Dhaka i.e. the BNP party led by the pro-Pakistani Khaleda Zia. Zia's regime used to arm anti-Indian separatists in the north-east of India encouraged to do so by Pakistan. India naturally got angry and retaliated.



The pro-Pakistani Khaleda Zia who misused Bangladeshi resources to support anti-Indian separatists in India's north-east, thus provoking India a nuclear state.


We Bangladeshis have no business being used by Pakistan or pro-Pakistan elements to carry out hostile acts against India. Our goal is to eradicate poverty and develop our country.

So I hope that we have lots of trade with India and its huge market of 1 billion +consumers.


[MENTION=1503]Maulik[/MENTION] your input would be appreciated please.

P.S. By the way to make it clear I do not support any party in Bangladesh but I generally prefer Khaleda Zia and her BNP to the Awami League but definitely not in a couple of key issues e.g. alliance with the Jamaat e Islami terrorist organization and unnecessarily provoking India and thus promoting the Pakistani (not Bangladeshi) agenda of hurting India.

[Da Bannu Mazdigar]

Despite the marginalization of Bangalis in the so-called Pakistan till 1971 and the dire condition in which it was immediately after its freedom from the samraj of Ranjit Singh and its limited territory relative to the population size, the performance of Bangladesh has been impressive. It is ahead of Pakistan in many areas of human development. Its GDP growth is around 6.5% at least twice as Pakistan's GDP growth and the overall direction is positive. It is one of the few Muslim countries along with Turkey, Malaysia, and Indonesia, about which there can be some hope.

It is indeed.But if we extract the data from World bank or IMF.It confirms that in 1975 the Bangladesh and Pakistan GDP difference was only 12 dollars.

GDP in Nominal terms had only a difference of 16Billion dollars.

Now since 1971 Bangladesh had relatively been very peaceful on the other hand Pakistan since 1971

*Initiation of Nuclear program in 1972(Cost hell alot of for poor countries)
*Coup and the death of Democracy for 10 years by a PIG
*Addition to Million refugees,who doesnt qualify for either skill labour or having education,A additional burden on the Economy
*1984 Siachen War
*Sanction from 1981(Kirana hills test) lasting more than 10years and than sanction again in 1995 upto 2002(?)
*1999 Kargil war and more sanction,Infact after Kargil war.Pakistan for months was isolated from the world arena because of the invasion of kargil
*2001 onwards TTP insurgency
*Present:Terrorism

But Still

*Pakistan is having GDP twice the size of Bangladesh
*Poverty rate as per WB,IMF and CIA is below 25% while in Bangladesh it is above 40%
*As he claims that Bangladesh recieves no Aid but Pakistan does.he doesnt know that every country in the world recieves aid including India and even china

http://data.worldbank.org/indicator/DT.ODA.ALLD.CD/countries/PK-BD?display=graph

If you notice the trend,Pakistan and bangladesh recieved alot equal amount of aid till 2004 but because of WOT Pakistan recieved more aid in the last decade but as per the most latest data of 2012

In 2012

Bangladesh recieved:2.1Billion dollars
Pakistan Recieved:2.0Billion dollars


I believe in Solid Facts and not random lies.The Aid to Pakistan has reduced and will further reduced in the close future.

Now if we go by PPP terms as the OP has posted.Than Pakistan even beat India let alone Bangladesh.Ofcourse Pakistan can never compete with India on actual size because of India having alot of population and much bigger size

Now just imagine if we had the 8.4% Growth rate under shaukat aziz in 2004-05 until now when chinadaily and bloomberg called Pakistan as the real challenger to China.In 2005 GDP's prediction by 2050 Pakistan was put at either 11th or 12th Position but after the lost decade we are now predicted to become 18th by 2050 and our spot is taken up by Nigeria.But still if we had something like Imran khan in power and Asad umar as finance ministry.Nothing was impossible for them

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aiSFuvMKI2Gw&refer=columnist_mukherjee

http://en.wikipedia.org/wiki/List_of...es_by_GDP_(PPP)

Anyway still Bangladesh is among the very few countries like turkey,Afghanistan and indonesia,Where any sort of development makes me happy.Even the bengali cat know from the other forums that I support bangladesh alot but since i have exposed him of being a tamil living in bangladesh having direct blood of Pakistanis he's only anti me in this forum.But again i was forced to expose him because of his divide pashtuna genda

[Toramana]

1. Bangladesh has better HDI than India or Pakistan in some ways.

[IMG]Despite slower economic growth, Bangladesh has achieved more rapid progress in human development than its neighbours India and Pakistan. Gender equality is a key factor in its success. The Bangladesh experience shows that gender equality is also key for the new development agenda[/IMG]

[/I]

Interesting statistics. As can be seen, Bangladesh HDI graph is a steadily rising line without any curvature. That shows the robustness of Bangladesh planning. Is there any other source, please?

[Bengal_Tiger]

Interesting statistics. As can be seen, Bangladesh HDI graph is a steadily rising line without any curvature. That shows the robustness of Bangladesh planning. Is there any other source, please?

Here is another image:



Another one here:




Bangladesh is a poor country, in fact it is a very poor country.

It has lots of problems.

However it is definitely better than India and Pakistan in many ways.

It is making progress and the prime minister recently said she wants the country to be first world by 2041.

If any country in South Asia becomes first world before others it will be Sri Lanka.


If Southern India were to become independent, they would probably become like Malaysia in 10 years and first world in 15-20 years. They are far more progressive minded and advanced than northern Indians in many ways.

[Toramana]

It is indeed.But if we extract the data from World bank or IMF.It confirms that in 1975 the Bangladesh and Pakistan GDP difference was only 12 dollars.

GDP in Nominal terms had only a difference of 16Billion dollars.

As for political upheavals and military take-overs, they have happened more in Bangladesh than in Pakistan. The Kargil war not a full-scale war. It was mainly skirmishes (also by the Pashtun FC and NLI, Northern Light Infantry ---Punjabis saved their skin) confined to a limited region.

Don't try to make a mountain out of a mole.

And do you know what 12 billion dollars in 1971 meant? It probably was the entire GDP size or constituted a large portion of it. Moreover, Bangladesh had to build every thing from the scratch including military because the Punjabi-Muhajir junta had diverted all investment to Karachi and Punjab.

And more Western aid had been pumped into Paki economy during Afghan War and West's crusade on terror than there any effect of sanctions was.

The point is despite limited resources compared to Pakistan and almost the same population size, Bangladesh has performed better than Pakistan and it seems it will continue doing so.