Processing .....please wait.. 
The article has been forwarded.... 
World's Third Largest Economy: India to Beat Japan
By siliconindia
|
Tuesday, 20 September 2011, 23:55 IST |
19 Comments
Bangalore: For long Japan stands as the World's third largest economy making it one of the powerful nations in the World. But the recent report by the Purchasing power parameter (PPP) will make Japanese people sulk as the report states that India will overtake Japan in terms of economic growth rate by the end of 2011.
Though India is reeling under high inflation, corruption scandals and slowing economy, it is still fire fighting its way to become the World's third largest economy. According to the gross domestic product (GDP) rate which is measured on domestic purchasing power of rupee, India will beat the advanced economic country Japan which is currently going through a tsunami recovery.
Known as second largest population and the largest democracy in the world, India ranks 12 in nominal term of world GDP after U.S., Japan, UK, Germany, China, France, Italy, Spain, Canada, Brazil and Russia. However, India ($4000 Billion) ranks No.4 after U.S. ($13800 Billion), China ($7000 Billion) and Japan ($4300 Billion) in PPP terms. With this number, India contributes 4.7 percent to the GDP of the world.
