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CONGRATULATIONS: INDIA enters 2 trillion club!

Discussion in 'World Economy' started by Cro, May 31, 2014.

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  1. layman

    layman Aurignacian STAR MEMBER

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    I dont think caste and its values are anymore credible in the present demographics of Indian economy and people. Politicians are sticking to it as their vote banks other than that All caste based reservations should be abolished.

    Racial comments should not spread hatred. It is against IDF's policy. So would like to inform you to tread carefully.
     
    omya and grond like this.
  2. Cro

    Cro 2nd Lieutant FULL MEMBER

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    According to the International Monetary Fund (IMF), as of 2014, the Indian economy is nominally worth US$2.047 trillion; it is the eleventh-largest economy by market exchange rates, and is, at US$7.277 trillion, the third-largest by purchasing power parity, or PPP.
     
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  3. Gessler

    Gessler BANNED BANNED

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    Tenth, I believe ?
     
  4. Cro

    Cro 2nd Lieutant FULL MEMBER

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    No, right now Indian economy is 11'th and Russia is in 10'th place the difference is in 10 billion dollars, but one can argue that Indian economy is all ready in 10 place and Russia is in 11'nt place because of the sanctions.
     
  5. HMS Astute

    HMS Astute BANNED BANNED

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    Where is this 10% GDP growth for every year going to come from? the sky? Even if it is now growing at this tremendous rate, the question is that is it healthy and sustainable in the long term? How is it going to effect the shift of poverty level, human development, and the change in GDP per capita or the income/salary of each Indian working in the country etc? (China is now in the process of transition to become a poor/low income country to a medium income country). You don't want to have $1 trillion growth in 3 year and the people are still poor with very low income without proper universal healthcare system, education, welfare, infrastructure and all the other basic needs like safe drinking water, food, toilet and shelter for every one in the country etc. I watched the "Million Dollar Arm" movie based on the true story a few nights ago and realised how poor India is whilst it wishes and is also trying too hard (mars, nukes, missiles) to be recognised as a powerful country at the same time. And the big questions are do you feel much richer now, do you spend a lot more than before, can you now buy better, more advanced and expensive cars, is your living standard better now than before because the country with over 1.2bn population hits $2 trillion GDP benchmark etc etc...
     
    Last edited: Oct 23, 2014
  6. PatriotSniper

    PatriotSniper 2nd Lieutant FULL MEMBER

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    It is not going to come from the sky but it will come eventually. We had recorded 10%+ growth, the highest in the World before the Italian Waitress came along.

    Even stupid policies from the West will affect our GDP growth. As I said before India & China looks poor because all Western Countries have borrowed saved $ from Developing yet strongly growing countries. We are the highest debt holders of western debt. Now the trend is changing and we no longer want to take your debt for you to enjoy. Your markets will collapse, Petrodollar will collapse. It is a completely engineered process by the big bankers.

    China, India & Russia will survive the upcoming crash as we save and dont spend like the West

    Dude I dont understand why you want to go on and on like a broken record. GDP doesn't reflect Income Distribution agreed but you see Income Distribution in India is the best among all the countries in the Top 10 countries by Nominal GDP apart from Germany

    What your saying is absurd. Go and check some stat videos of Hans Rosling and see how every single field in India & China has improved as soon as the growth in India & China skyrocketed.

    India has a middle class which speaks volumes. US, UK and many western countries dont have a substantial middle class

    Of course we are proud of it. When we started off as a country the only things we had in plenty was - land, agriculture, minerals.

    Today we design every single microprocessor the west uses, we have all the back office services now even the manufacturing sector is rushing in. Soon we will have customers from 100 countries asking us to launch their satellites

    Check this video, it will show how out of sync you are with reality

     
  7. omya

    omya Lt. Colonel ELITE MEMBER

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    lol my family insurance costs Rs. 9000 for 3 persons which covers bills till 6 lakhs and we dont have to pay 150+ euro car tax for every six months.
     
    Last edited: Oct 24, 2014
  8. HMS Astute

    HMS Astute BANNED BANNED

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    And yet majority of you guys in India can't afford decent cars.
     
  9. omya

    omya Lt. Colonel ELITE MEMBER

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    tata owns Jaguar Land Rover... and we do own cars and change them after every 4-5 years... and dont expect anyone will bark on forums the cars they own like you do
     
  10. HMS Astute

    HMS Astute BANNED BANNED

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    UK is one of the biggest external debt holders of the US government. You can't say we, because you are neither Chinese nor speak on behalf of China.

    The biggest foreign holders of US debt are:
    • China – $727 bn
    • Japan – $629 bn
    • UK – $157 bn
    • Brazil – $129bn
    • Russia – $116bn
    Total foreign debt holdings = $3,000bn or about 28% of total national debt.


    List of countries by Credit Rating.

    [​IMG]
     
  11. lcafanboy

    lcafanboy BANNED BANNED

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    do you know that india has double economy. one that is visible white economy which you see is now a 2 trillion dollar economy and one which is invisible that is black economy which is unaccounted for and is as much as the white economy. for example if you buy a home or any property the ratio is 40% to 50% cash and rest white. the same goes for smaller traders they don't pay any tax nor provide any bills. so do i have to say that indian economy is almost double of what is deing stated and more likely to in region of 3 to 3.5 trillion dollars and should be in 6th or 7th place. problem is wealth distribution. a few people have their money stashed abroad while much of the public is suffering thanks to
    corrupt politicians and govt officials.
     
  12. Lord Aizen

    Lord Aizen 2nd Lieutant FULL MEMBER

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    Also real estate is not included in current nominal GDP. GOI is gonna revise it in early 2015. So expect Indian economy yo increase by $200 - $300 billion .
     
  13. Gessler

    Gessler BANNED BANNED

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    An estimate put the hidden assets (black economy) at another $ 2 trillion.

    Bloomberg.com
     
  14. PatriotSniper

    PatriotSniper 2nd Lieutant FULL MEMBER

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    Lay off mate, I was speaking on behalf of BRIC. If you cant understand a language you guys created what will you understand..?

    BRIC will rate - USA as CCC & UK as CC, then lets see you guys brag
     
  15. HMS Astute

    HMS Astute BANNED BANNED

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    I'd be impressed if India (world's 2nd largest population on the planet) had no less than at least $35 trillion GDP nominal and average Indian also earned no less than $45,000 a year with access to decent infrastructure, public transport, universal healthcare, education and welfare systems.
     
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