Brief by Shorts91 Newsdesk / 08:08pm on 28 May 2025,Wednesday India
India is now the third-largest economy in the world by Purchasing Power Parity (PPP), a position it has held since 2009, according to IMF data. While recent claims by NITI Aayog's CEO suggest India overtook Japan to become the fourth-largest economy in nominal GDP terms, a deeper look reveals that India’s PPP-based GDP already ranks it behind only the US and China. However, India’s per capita income remains low, indicating that average prosperity still lags far behind developed nations. Experts urge shifting focus from GDP rankings to improving individual incomes and real standards of living. (PC: The Indian Express)
