2012
19.4.2012
IMF data shows that India's GDP in purchasing power parity term stood at $4.46 trillion in 2011, marginally higher than Japan's $4.44 trillion, making it the third-biggest economy after the USA and China.
In terms of share of World GDP, India has 5.65%. In five year, India's share will grow to 8.09%.
( http://nextbigfuture.com/2011/05/imf-gdp-and-ppp-forecasts-to-2016.html )
In terms of per capita income the figures are USA; $48,387, Japan $34,740, China $8,382 and India $3,694.
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2009
Dominic Wilson and Roopa Purushothaman of Goldman Sachs in their report dated 1st October 2003 titled Dreaming With BRICs: The Path to 2050 mapped out GDP growth, income per capita and currency movements in the BRICs economies until 2050.
They forecasted, growth for the BRICs is likely to slow significantly toward the end of the period, with only India seeing growth rates significantly above 3% by 2050.
They also predicted that India’s economy could be larger than Japan’s by 2032, and China’s larger than the US by 2041 and it will be second to US economy by as early as 2016.
The predicted that India has the potential to show the fastest growth over the next 30 and 50 years. Growth could be higher than 5% over the next 30 years and could remain close to 5% even up to 2050 if development process proceeds successfully.
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2009
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2010
A PWC report predicts that India could move into third place in individual country GDP ranking in the purchasing power parity (PPP) catogory by getting ahead of Japan in 2012, in contrast to the Goldman projection that it will happen in 2032. The report is prepared by John Hawksworth, head of macroeconomics at PWC. The report also says that India is likely to grow faster than China after 2020. The report predicts that, by 2020, the G7 (US, Japan, Germany, UK, France, Italy and Canada) will be overtaken by new 7(China, India, Brazil, Russia, Mexico, Indonesia, and Turkey).
The report made the cautionary remark that India needs to continue its growth-friendly economic policies.
Visit http://www.pwc.com/gx/en/world-2050/beyond-the-brics.jhtml for more information.
References
Dominic Wilson and Roopa Purushothaman, Goldman Sachs, report dated 1st October 2003 titled Dreaming With BRICs: The Path to 2050, http://www2.goldmansachs.com/ideas/brics/book/99-dreaming.pdf
Jim O’Neill and Tushar Poddar, Goldman Sachs, report dated June 16, 2008
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