Comparison India:Indian economy vs US, EU, Canada, China and world
81India: Comparison Indian of economy vs. US, European Union , Canada, Japan and China
India is an emerging economy and comparison of Indian economy with other countries such as the US, European Union , Canada, Japan and China is needed to study international economy and business. People want to compare economies to make strategies. This article will help you understand better Indian markets, consumers, industries and overall growth picture of India in Comparison with US, EU, Canada, Japan, China and rest of the world.
India is a large country having population of more than a billion, second highest in the world. It is also the largest democracy in the globe. GDP India is fourth highest in the world in PPP terms. Here is a comparison of Indian economy vs. the US, EU, Canada, Japan, China and rest of the world.
Indian GDP ranks to No.12 in nominal term of world GDP after US, Japan, UK, Germany, China, France, Italy, Spain, Canada, Brazil and Russia. However, India ($3000B) comes to No.4 after US (America) (($13800B), China ($7000B) and Japan ($4300B) in PPP terms .
India is a large economy. It has GDP of $1100 B (2007) or RS.55000 B. It is approximately two percent of the GDP of the world i.e. $55000 B. It does not tell the real story because world GDP is calculated based on US dollars. However, Indians have to buy, sell and spend in Indian rupee. Price parity parameter shows comparatively better picture. In PPP method, Indian GDP is calculated to $3000B that is approximately 4.7 percent of world GDP of $64000B in PPP.
Bond issue: Reserve Bank of India
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Highest growth in stock market
More over India is growing at the rate of eight to nine percent per annum where as most of the developed countries including US, Canada, Japan and countries of EU and UK are growing at a very slow speed until last year. Only China has shown greater growth rate than India.
Picture is little different this year. Most of the developed countries have started showing tendency of negative growth. This will surely affect India and China but they can manage their growth in a positive range. It is expected that China will manage a growth rate of eight to nine percent where as India will anywhere between seven to eight percent.
India has achieved highest growth rate in stock market in the world. If we compare the stock markets of India and America since 9/11, we find fascinating facts. Dow Jones fell after 9/11 to 8235 on 21st September 2001. The BSE (India) also fell during those days to reach a low of 2595. Particular data for Shanghai (China) and Hangseng (Hong Kong) are not available to me (If anyone has the data, please inform me) but those were around 1400 and 11000 respectively. Dow Jones is trading at 8787 (While writing this hub Dec. 09, 2008). If we compare it with the previous Dow Jones data (21st sept.2001), it has gained mere 550 points over the period of more than seven years. Where as BSE India has traded at (on eighth Dec.2008, 9th market closed) 9162 level. It has jumped from 2595 to 9162, that is a gain of 6567 points or approximately 250 percent! Hangseng is 14753 and Shanghai is 2037 today. As I do not have actual data of 21st Sept. of both these indexes it is not justified to calculate the gain but it is some thing around thirty to fifty percent.
Dow has increased mere six percent in more than seven years and China and Hong Kong index has raised by thirty to fifty percent (roughly estimated) but Indian stock exchange index BSE has shown an amazing growth of more than two hundred fifty percent.
I have deliberately taken bear market data for a real comparison.
Collapsing Dow Jones
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Fifth highest foreign currency reserve in the world
India has fifth highest foreign currency reserve in the world.
Foreign currency reserves of China, Japan, Russia,Taiwan and India were $ 1905, $997B, $485B, $282 B and $247 B respectively in 2007. This shows that Foreign currency reserve of India was the fifth highest in the world after that of China, Japan, Taiwan and Russia. The most interesting fact is that Indian foreign currency reserve had been increased 64 percent in comparison to 32 percent of China and 57 of Russia, 9 of Japan and below 3 percent of Taiwan on year-to-year basis.
It is worth mention that so called rich countries likes of the US, Canada, France and the UK are not in this list.
Composite economic scenario of India:
GDP India is twelfth largest economy in the world in nominal parameter but that does not show the real picture.
GDP India represents the fourth largest economy in the world in price parity parameter (PPP).
India has the second highest growth rate in the world after China.
BSE stock index of India has grown at the fastest pace beating all stock indexes in the world including America, Canada, China, Japan and of course, all stock markets in European Union. India has no.1 growth rate among stock markets in the world.
Bombay stock Exchange
When will India come to third position in world GDP (PPP)
See results without votingUpdates: Indian economy
N.B. Global recession also hit Indian economy during the last quarter of 2008. However, It has started regaining its ground. India has successfully controlled its inflation problem. Indian auto sales up by 10 percent during the first quarter of 2009. It is continuing with its GDP growth.
BSE sensex, that has tasted below 8000 during recession has crossed 12000 marks on 7th May 2009.
The Sensex had crossed 18000 marks at the end of 2009 before com,ing down to 16K at present. (Feb: 2010)
Indian economy triumph over US
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India in Green Job sectore
India has announced carbon emissions cut voluntarily at Climate change conference in Copenhagen. This will be proved a major step towards clean energy sector. India is already generating wind power and hydro-electicity. Announcement of carbon emissions cut will push forward India in these sectors.
Some of the major Indian industrialists have started making their industries green. Tata is one of them. This initiative will help growing environment friendly and energy efficient industries and businesses. India has started moving towards renewable sources of energy especially in solar energy and wind energy. Vast desert land in Thar area is ideal place to produce solar energy. Long coastal area viz a viz to desert are ideal places for producing wind energy.
India is pioneer in recycling industry. Large numbers of Indian people are involved in recycling waste materials in unorganized sector. Some organized sector businesses have recently entered in to this business. Government incentives can boost this industry to sky height.
India is growing organic food and other agricultural products in huge quantity. The country is also creating green forests and urban forests to fight global warming and climate change.
Several urban cities authorities made water harvesting compulsory for new buildings. This government initiative is boosting water harvesting projects in urban areas. Government initiatives in rural areas will enhance these projects many folds.
All these will make India pioneer in green industries. It will create large numbers of green collar jobs in India.
Salary hike in India and other countries
Salary hike in India is the highest in the world. Recent survey reports suggest that salary hikes in different countries are different. Comparison of salary hikes in India and other countries in the world are mentioned below.
Japan remains the lowest with just half percent hike in salary. it is approximately one percent in Canada and two percent in New Zealand, Australia. Hong Kong and Singapore. The US, of course, have achieved up to 2.8 percent. Indonesia have achieved a salary hike up to nine percent and Vietnam is at the level of ten percent growth.
However, India beats all countries in the world with eleven percent hike in salary. India is leading even in the recession period.
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Where most of the countries facing bank failures, India has not that much affected. Though some small banks also failed here no major bank is in crisis. Job loss ratio in India is also very low in comparison to other countries. It has growth rate over five percent so far.
It is worth mention that India has achieved almost zero percent inflation rate (Year to year basis) where as most of the countries are either facing or in the brink of high inflation.
(Updated on eleventh April 2009).
(This hub is published on December 9, 2008.)
India will lead internet and telecommunication
India is showing amazing growth in internet connections and mobile phones. India is number two in mobile phone users in the world after China. It has surpassed the US long back. There are more than 650 million mobile users in India presently. More over, it is still increasing.
India is showing tremendous growth in internet connections. India is adding more than five million users every month or more than sixty five million internet users every year. It is the highest growth rate in the world. It is expected that India will cross America, the US in number of internet connections by the year 2013. Any of the European Union countries, Japan and Canada can not stand with India while it comes to numbers.
It is well known fact that Indian IT professionals are the back bone of silicon valley. Number of websites are also increasing in India with the growth of internet connections. Indian IT companies are coming forward in web designing and software development.
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You can feel free to mail it to your friends, family or any one else you like to send it. They may find it useful and thank you. I will also appreciate your effort.
(Updates: December 6, 2011)
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CommentsLoading...
hii
Very interesting and useful hub for the knowledge of common man of India. GDP and other facts and figures were compared nicely.. It really boost my knowlegde.
sumit gaurav
Hello Sir, I like to read more about Indian economy and thnx to u sir for this great information. Sir i request u to post more about india. Sir my Id is, sdasharma.sharma@gmail.com. Thanx
Dear JYOTI KOTHARI
You are really a great man. Thanks for such a useful information . Till now ,i don't have good image of India because of the corruption and the useless government . Can you please post the area where indian are lacking and need to improve to be the most powerful country .
We have to control the inflation to really grow.I think that is only possible with a higher level of corporate responsibility and a good governance.Corruption and no accountability in govt as well private sector is a most important factor for higher inflation rate.I think we have to address all these issues more seriously.
i think india is better than all other and india is bettter here we don't have to do labour
but in canada even no one gets time to talk even with their children
Very nice information.....thanks for sharing.
hey jyoti its really nice to read about growth of india but you should have given some stats table too to make it more clear
i think jyothi kothari is the best man fro the job of vice president
Hi Ravi,
The hub was written nearly 2 years back. Much water has flown from river Ganga since then. The world has started recognizing India now.
Thanks for your comment,
Jyoti Kothari
i m amazed to read ur informtion, and after CW games world says that india is 3rd most powerfull economis. hatt's off to you man.
Thanks for your comment. I am reading your article. Population works both the way. It is helping if human resources are managed properly.
Hi! Jyoti
Just visited back your informative and interesting article, saw interesting comments by you and and others. About you mentioning population being a problem, I think it is a myth created during license raj in our country by People who rule to hide their mismanagement. Statistics does not support this feeling. I wrote some weeks back an article about it. Here is a link.
A very informative eye-opener to what is happening in so called developing countries. The future will unravel the course of Western economy and all we can do is wait and watch while the powers that be toss it around. If we have people like John Boehner saying "to get our economy moving ... we have to get it going" lol what's going to be the future of the USA?!
sir this hub is really good................
thank u soo much. the information was really very useful
can u please let me know about the job opportunities in india in the up coming 2-3 years
India will be the best pioneer of business for coming dacade as there are moer than 100 top leadership in business and strategies of business is completely different than other country
what is the reason that indian economy is booming pl tell some reason
Hi Sant Kumar,
Thanks for visiting the hub and commenting on it. I agree with you that Indian economy is booming.
Hi Jyoti,
You have described economies of several countries in an excellent way. Indian economy is, surely, in boom and it can now be compared with any other economy in the world.
Thanks for sharing. Thumbs up!
Sant Kumar
Situation, status, economy, population, area, education and many other factors vary country to country and region to region. All these influences economy and growth rate.
Hence all the countreies you have mentioned have different growth rate and growth story.
Thanks,
Jyoti Kothari
Hi Jyoti,
I am amazed with the data that you have put in.
Indian economy has shown great improvements in the last 2 decades. However can you expalin why do the economies (I mean growth of economies) like India, China, France, Japan, US and UK differ?
Hi Garima,
I am glad to know that this hub have enhanced your knowledge. It is really nice to hear that mu hubs are helping some one like you.
Thanks,
Jyoti Kothari
Hi,
Very interesting and useful hub for the knowledge of common man of India. GDP and other facts and figures were compared nicely.. It really boost my knowlegde.
Garima
Hi Anil,
There is no doubt that India is progressing with an enormous speed in educational and economic front and the world have started recognize its progress.
Thanks for your comments!
Jyoti Kothari
Hi Jyoti,
This is wonderful. You have explained about all economies and painted right picture of India. Still there are people who do not believe in the strength of Indian economy and keep themselves engaged only with western economy. Perhaps they are living in the fool's heaven.
I have read large numbers of your articles on economy and found all of them thought provoking and data rich.
Thanks and thumbs up!for contributing for India.
Anil
Dear Soumyasrajan.
I agree with your comment. India has a large population and that is her assets.
However, India is thickly populated and have much less natural resources than other countries. The US has three times of land than India with a only population of one fourth of India.
It means the US have at least 10 times per capita resources than India.
India will come up using its human resources.
Thanks,
Jyoti Kothari
Hi! Jyotiji
Good informative collection of statistics about Indian economy. I enjoyed going through it. We have to still go a long way. Percentage of our income to world's total income should be at least equal to percentage of our population. Actually our country is much richer in resources and human capital so it should be much more. That means we have to increase our income even in ppp terms at least 4 times. Hopefully we will be much better of in next 4-5 years. Only our government should leave business and infra structure building to business managers, industrialists and institutions. Let us hope it happens.
Hi Anshul,
Thanks for reading this hub and taken to time to comment.
Jyoti Kothari
hey jyoti grt effort.hats off to you for collecting such diverse informations and arranging them in an orderly manner
India will take over China soon. It will soon achieve growth rate of ten percent. China will go down in growth rate according to the economists.
Thumbs up!
Hi Narendra,
India is now leading the economic and financial news. India has proved its potential.
Thanks for your comment and compliment.
Jyoti Kothari
Jyoti,
This is a superb article. India is emerging in economic front. The world has noticed Indian economy since last few years.
Thanks
Hi Jenn,
Thanks for your comments. Yes, you are right. India is leading IT sector.
Jyoti Kothari
Nowaday ,Indian people has a lot of great programmers... and computer and technology institutes..
more than 90 percent people believe that India will become third biggest economy in the world by 2020 according to your poll so far.
This is great about the country. thanks for comparing economies of india, US, canada and China.
Very good article, I liked it.
desmond
thank u its very usefull
I agree with you ,Surendra Bothara India will emerge stronger in this slowdown because of its internal potential.
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You have compared Indian economy with other economies well. India is the rising sun in economic front. No doubt.
Thanks for good informative hub.
Hi Pritesh,
India is doing well comparatively even in the period of global recession and slow down.
There is a good salary hike too. Thanks for commenting and sharing your experience here.
Jyoti Kothari
Dear Jyoti,
Nicely written hub with support of data. India is graduaaly gaining its groung in world economy. It will emerge stronger in this slowdown because of its internal potential.
Surendra Bothara
hi jyoti,
My company is a nedium level company which has given a hike in salary between 7.5 to 23 percent. On an average it is 14.8 percent. Indian stock market is again started booming.
India is doing extremely well in comparison to other countries in every front of economy.
Thanks for a fantastic article.
Pritesh
Hi James,
Emerging economies are doing much better than developed countries in economic front. India is a democratic country and therefore it is better than China.
It is nice to hear that this hub will help you in your business.
Jyoti Kothari
Jyoti Kothari
Hi,
I have a business blog. Please view my blog clicking to the link. I have posted this article in my blog.
Anjali
Hi anjali,
Thanks for your comments. I agree with you that India is doing well even in the recession. India is a store of talents and that is the driving force of Indian economy.
Jyoti Kothari
Fantastic!
We, the traders now have to think of India instead of developed countries like US< EU, Japan and Canada.
India is better than even China. Really Eye opening.
Thanks for providing knowledge and information. It will surely help grow our hardware business.
Thumbs up. This is signature of your talent and geneous.
James.
Fantastic!
We, the traders now have to think of India instead of developed countries like US< EU, Japan and Canada.
India is better than even China. Really Eye opening.
Thanks for providing knowledge and information. It will surely help grow our hardware business.
Thumbs up. This is signature of your talent and geneous.
James.
Hi Jyoti,
India is doing well comparatively even in the recesion. We are proud to be Indian. I have seen some of your hubs and all are different, off beat and awesome.
Talented people like you are behind growth of India. I believe that India will be the super power in economic field. It will beat even America, the uS.
Thumbs up!!
Anjali
Anjali
Hi Sophieqd,
Thanks for your comment.
Please feel free to come and comment on my other hubs.
economy finance india us eu japan china world comparative study
I enjoyed reading your hub. It was very informative. I will come back to read more of your other hubs.
This hub is useful for investors and for common people too. i tried to collect some data of these countries and to analyze them in this hub.
Thanks for compliments.
Jyoti Kothari
Hi Jyoti,
Awesome hub. You have compared the economies nicely. Investors can choose and deciede. Very useful economic article.
Sue
Yes, Congrats!!! However, Oscar is not a big thing for Indians. Moreover this movie is showing only the dark side of India. As usual.
Jyoti Kothari
thanks for great articles.Today Movie from india get Academy awards 2009.congratulation!
Very interesting hub. Since the global enonomic crashing I'm not so sure we can count on anything as predictable. Many analysts seem to believe that things will level out, time will heal the problems and then it will be back to business as usual as prices adjust to lowered incomes. Not realistic in my book as millions of jobs have disappeared and continue to do so.
There has been a huge realignment both in America and the world, not so much among the businesses as their practices have yet to change since their governments are still feeding their bad policies. What has changed dramatically is in the minds of the consumers who once fed those businesses. Life has changed permanently and we all must learn to adapt.
One currency? Not any time soon. The negative domino effect that President Bush started has created so much distrust among even the American people that there is no way the average consumer will trust a world order currency in this generation or for several more generations.
Maybe in about 4 generations when the memories of this time dims and only if there is economic prosperity. People tend to contract in times of economic downturn and trust less.
To join with a world currency would require a feeling of financial safety and trust. So, if you are going to propose such an event you might only succeed in time of prosperity and to a generation that has never experienced hardship.
Once people are wealthy, they sure don't like to go backwards down to poverty and hardship. Good luck on that world currency idea. What sounds logical to the left brain isn't going to work with people in general as humanity is illogical.
Dear Coolbreezing,
You have cracked the code. World economy has been shaping to a new order. You have to look at my articles as a series to describe this new order of economic change. US will no longer be in such domonating position.
We are aproaching towards a multi-polar economic region.
Jyoti Kothari
Dear Nileshji,
Indians are not much exposed to credit card culture. This culture is recently introduced to Indians. Very small percentage of Indians are willing to join the credit card culture. Most of us are still purchasing goods on our own money.
Only housing loan has a good dent in Indian market because of tax benefit follwed by vehicle loan.
Jyoti Kothari
thanks jyotiji for very good information,
i think indian are not taking many finance or credit cards from bank like america and other country,so indians are not doing over load tention on their head,they are doing as per their strength,so ther are happy,they are doing limited debit as per their capacity,
Thank you Kothari
That was a very informative hub you put out there
The speaker from the You Tube video reassured my position on the economy. It is as if I was reading his blogs. Anyhow it appeared to me that some sort of equilibrium must be reach here. Globolization has changed the way people do business completely. In fact it is partly because of Globolization that the economy is now showing different faces. Globolization has allowed all companies to do business under one umbrella. Those companies that can't feet under this umbrella will get wet and it's exactly what we are now witnesses. The need for a new currency is definitely arriving and it's not that far away. I mean what do people think when the president elect said “the economy will get worst before it get better.” It is only when one is faced with desperate means can he agree to settle for an unfair price.
I think the Indian people are very smart in business and, correct me if I'm wrong, but didn't buy any of the bundled portfolios that had included the subprime mortgages that were actually at the root core of the economic meltdown. Is that true, jyoti?
I think the Indian people are very smart in business and, correct me if I'm wrong, but didn't buy any of the bundled portfolios that had included the subprime mortgages that were actually at the root core of the economic meltdown. Is that true, jyoti?
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India - 
United States - 
European Union (EU) - 
Japan - 
Canada - 
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Hello Sir,
Thanks for sharing very very useful information. this article is very helpful for investors, economists, academicians and students.