India is now third largest economy, ahead of Japan

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

By: Express News Service | New Delhi | Updated: April 30, 2014 11:16 am
It highlighted the fact that the largest economies were not the richest, as shown in the ranking of GDP per capita. It highlighted the fact that the largest economies were not the richest, as shown in the ranking of GDP per capita.

India is now the world’s third largest economy in terms of purchasing power partiy, ahead of Japan and behind the US and China which hold the top two spots. This was revealed by the 2011 round of the World Bank’s International Comparison Program (ICP) released on Tuesday.

Read full summary of results and findings here

“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.  It highlighted the fact that the largest economies were not the richest, as shown in the ranking of GDP per capita. The middle-income economies with large economies also had large populations, setting the stage for continued growth, it added.

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The report says India “went from the 10th largest economy in 2005 to the third largest in 2011. Incidentally, the economies of Japan and the United Kingdom became smaller relative to the United States, while Germany increased slightly and France and Italy remained the same.

The relative rankings of the three Asian economies—China, India, and Indonesia—to the United States doubled, while Brazil, Mexico, and Russia increased by one-third or more.

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  1. C
    Chittaranjan Das
    Feb 4, 2016 at 5:03 am
    NICE
    Reply
    1. J
      Jack Larson
      Apr 30, 2014 at 11:15 pm
      When Indians go shopping for milk and eggs, they don't pay in PPP. They pay in real INR which, frankly, sucks against the almighty USD. Measured by Real GDP, India is 10th. Deal with it. India should first get indoor toilets for all its citizens before focusing on economic parity with the US and China.
      Reply
      1. S
        Srinivasan Gopalarao
        May 1, 2014 at 12:31 am
        Congress took us fifty years behind the west isolated us from the rerst of the world by its so called b of Nehruvian nonsense of a socialism and we were bankrupt before they themselves opened up without an apology to people. MMS stole the credit for what PVN did
        Reply
        1. S
          Srinivasan Gopalarao
          May 1, 2014 at 12:36 am
          How long will your so called approval take??? Is it as swift our courts????
          Reply
          1. S
            Srinivasan Gopalarao
            May 1, 2014 at 12:32 am
            rightly said
            Reply
            1. I
              INDIAN
              Apr 30, 2014 at 8:23 am
              let bjp come, will go below 10 don't worry about that INDIANs
              Reply
              1. K
                K.J.Haroon Basha
                Apr 30, 2014 at 8:19 pm
                But the BJP is blaming the Congress party for bad economy. How come India achieved third rank if the economy was bad? This proves beyond doubt that BJP is just criticizing the government with false accusation.
                Reply
                1. K
                  K.J.Haroon Basha
                  Apr 30, 2014 at 8:21 pm
                  You are an ungrateful person indeed.
                  Reply
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