(This hub is published on December 9, 2008.)

India is a large country having population of more than a billion, second highest in the world. It is the largest democracy in the globe. GDP India is fourth highest in the world in PPP terms. Here is a comparison of Indian economy with 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 (($13800B), China ($7000B) and Japan ($4300B) in PPP terms .

India has a very 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 counted based on dollars but 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.

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 bigger 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 six to seven 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 previousDow Jones data (21^st 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, 9^th 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 21^st 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.

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 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 like the US, Canada, France and the UK are not in this list.

Now look at the 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 worls including the US, Canada, China, Japan and of course, all stock markets in EU. India has no.1 growth rate in stock market in the world.

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.

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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Read it before rushing to a white collar job

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).

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