In 2021, GDP based on PPP for India was 10,193.54 billion international dollars. GDP based on PPP of India increased from 2,292.81 billion international dollars in 2002 to 10,193.54 billion international dollars in 2021 growing at an average annual rate of 8.26%.
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What is GDP based on PPP?
GDP (PPP based) is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as a U.S. dollar has in the United States. A purchasing power parity (PPP) between two countries, A and B, is the ratio of the number of units of country A’s currency needed to purchase in country A the same quantity of a specific good or service as one unit of country B’s currency will purchase in country B. PPPs can be expressed in the currency of either of the countries. In practice, they are usually computed among large numbers of countries and expressed in terms of a single currency, with the U.S. dollar (US$) most commonly used as the base or "numeraire" currency.
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Economy of India
| Statistics |
|---|
| GDP | $3.732 trillion (nominal; 2023 est.) $13.119 trillion (PPP; 2023 est.) |
| GDP rank | 5th (nominal; 2023) 3rd (PPP; 2023) |
| GDP growth | 7.2% (FY2022-23) 7% (FY2023-24) 8.4% (Q3 2023-24) |
| GDP per capita | $2,612 (nominal; 2023 est.) $9,183 (PPP; 2023 est.) |
42 more rowsPurchasing Power Parity India Rank 2021
In 2021, India will remain the world's third-largest economy in terms of purchasing power parity. In purchasing power parity terms, India's GDP was estimated to be $9.266 trillion at the end of 2021.
What is the PPP equivalent between India and USA? ›
Equivalent Salary Converter Using PPP!
Using the concept of PPP (Purchasing Power Parity), we can get a more accurate estimate for the conversion. Let's get started! According to PPP, a salary of INR 100000 in India is equivalent to INR 377462.45 or USD 4547.61 in United States.
What was the rank of India in PPP in 1991? ›
3rd largest in PPP terms
In terms of GDP by Purchasing Power Parity, India was ranked 10th in 1991, now it is ranked 3rd after China and USA. India represented 1% of the world economy in 1992,which has jumped to 3.6% in 2020.
Is India the largest economy in the world in terms of PPP dollars? ›
Hence, statement 1 is correct.
In terms of PPP Dollars, China ($23.52 trillion) is the largest economy in the world, followed by the United States ($21.4 trillion) and India ($9.56 trillion) at second and third positions respectively.
What is PPP factor for India? ›
The value for PPP conversion factor, private consumption (LCU per international $) in India was 21.20 as of 2020.
Is India 3rd in terms of PPP? ›
In PPP terms, which focuses on the purchasing power of the domestic currency within the economy, India is already the third-largest economy, well above Japan and Germany. Further, at the end of 2027 (FY28 for India), the US economy would be only about 1.7 times that of India in PPP terms.
What was the PPP rank of India in 2014? ›
However, in terms of PPP, India's GDP stood at $6.78 trillion in 2014, maintaining its third slot in the world, after China and the US. It took the economy three years to cross the $4-trillion mark after it surpassed $3 trillion in 2007 and two more years to cross the $5-trillion mark.
Which is the largest PPP project in India? ›
Adani bags Rs 17,000 crore e-way, country's largest PPP project.
What is a good salary in India? ›
What is a decent salary in India? A decent salary in India is around INR 3 lakh per annum.
The Government of India recognizes several types of PPPs, including: User-fee based BOT model, Performance based management/maintenance contracts and Modified design-build contracts (turnkey). Today, there are hundreds of PPP projects in various stages of implementation throughout the country.
What is the average salary in India? ›
The average salary in India is ₹3,87,500 per year or ₹32,840 per month. The average salary typically indicates the Standard of living.
What was the GDP PPP in India in 1990? ›
GDP per Capita PPP in India averaged 3815.90 USD from 1990 until 2022, reaching an all time high of 7112.04 USD in 2022 and a record low of 1800.01 USD in 1991.
What is the PPP of India and Britain? ›
GDP (PPP) means gross domestic product based on purchasing power parity. According to research by Delhi-based nonprofit Social Policy Research Foundation (SPRF), as of 2024, the Indian economy, when seen at PPP, is 3.6 times that of the UK, 2.1 times that of Japan and 2.5 times that of Germany.
What is the year 1991 famous for in India? ›
In 1991, the Indian economy was facing an economic crisis due to the balance of payment issue. The Indian Government decided to open up the Indian economy and make it market oriented. India focused on Liberalisation, Privatisation and Globalisation thus ushering in the economic development of India.
Which country has highest GDP per PPP? ›
- China, People's Republic of. 19.01.
- United States. 15.5.
- Japan. 3.62.
GDP (PPP) means gross domestic product based on purchasing power parity. According to research by Delhi-based nonprofit Social Policy Research Foundation (SPRF), as of 2024, the Indian economy, when seen at PPP, is 3.6 times that of the UK, 2.1 times that of Japan and 2.5 times that of Germany.
Is India the third largest in terms of PPP? ›
"From the ninth largest economy a decade back, India has now become the 5th largest economy with a nominal GDP of $3.4 trillion. On a PPP basis, the GDP is already much higher at $13.2 trillion, making it the third largest economy in the world," the Jefferies said.
