How rich is this?

This can only be described as impressive.

In the last 2000 odd years, India has largely ranked amongst the top three economies. The exception to this ‘rich performance’ are the last 200 odd years – 10% of the review period. But now, if the rather iffy concept of GDP based on PPP is to be believed, India is back as the 3rd largest economy.

The iffy part of PPP comes from the fact that Nigeria is ranked ‘richer’ than Qatar and Switzerland!

The iffy part of all such GDP linked definition of ‘richness’ is the visible poverty of millions of Indians who, like many across the world, seek a more equitable development than what is promised under capitalism and what socialism failed to deliver.

But till then, as Indians, lets be happy at being ‘rich’ again.

For folks interested in rankings of other economies check the comprehensive table at http://data.worldbank.org/data-catalog/GDP-PPP-based-table

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This entry was published on October 29, 2014 at 1:10 pm. It’s filed under Economics, India and tagged , , . Bookmark the permalink. Follow any comments here with the RSS feed for this post.

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