According to the latest round of International Comparison Program, India becomes world’s third largest economy in terms of PPP, displacing Japan to fourth. Top two ranks remain intact with US and China firmly at first and second.
PPP is used compare the the price level difference in different economies. India’s share in World economy is 6.4% compared with China’s 14.9% and US’ 17.1, according to the latest ICP.
Though in absolute Dollar terms India is placed at 12th position.
I am creating this blog to keep a Track of the event in Economic World. I will try to keep focus on India. But with so much is happening around and we so coupled with the world around, a lot of International Events are going to find their way to this blog.