India will soon become the third largest economy. Does it matter?
I believe that India becoming the third largest economy is a significant event. It is a sign of India's growing importance on the world stage, and it has the potential to benefit the Indian people in many ways.
For one, it could lead to higher incomes and better living standards for the average Indian. This could help to reduce poverty and inequality, and it could also lead to an increase in social mobility. Additionally, India's growing economy could have a positive impact on the global economy, as it could become a major source of investment and trade.
Of course, there are also challenges that India will need to address in order to realize the full benefits of its growing economy. For example, India needs to address its environmental challenges and ensure that its economic growth is sustainable. Additionally, India needs to ensure that the benefits of economic growth are shared evenly, so that everyone in the country can benefit.
Overall, I believe that India becoming the third largest economy is a positive development. It has the potential to benefit the Indian people in many ways, and it could also have a positive impact on the global economy. However, there are also challenges that India will need to address in order to realize the full benefits of its growing economy.
I am excited to see what the future holds for India, and I believe that this country has the potential to achieve great things. I am confident that India will continue to grow and prosper, and I am proud to be a part of this country's journey.
No it doesn't.
India has surpassed Japan Germany France as it moved up the ladder.
But remember those nations are already in well off category with high standards of living , high percapita and and most people leading a rich and comfortable life .
They have done their share of high gdp growth . These days even 2 % or below gdp is enough to keep their economy strong and moving and kee their citizens well off with high income. They also have small populations who are well off in every possible ways.
Even America which has the biggest economy grows around 1 to 3 percent yearly and that's good enough to keep it going .
Most Americans live in high comfort surrounded by good homes , good cars , all gadgets and very healthy food items from supermarkets.
They have enough surplus money to go on holidays etc at least once a year.
The only Asian nation at the top is China which made a huge effort to grow and have a strong and big economy.
The Chinese world hard . They sacrificed a lot . And today they are repeating the harvest.
For them even 4 to 7 % growth rate is good enough to sustain their standards hight .
China is now in consolidation zone with a huge industrial agro and jobs base .
They have a vast industrial military complex and have the most powerful armed strength.
They lord it over even America which is looking for partners everywhere- Australia and India are the recent examples.
While it may be satisfying most Indians that India would soon be third largest economy it means little in terms of poverty alleviation, higher per capita income or high incomes and jobs and provide a better life who are just ankle the bpl line but mot well life .
In fact bpl people are better off as they get most of the subsidies, cash or kind .
But for GOI it's a high campaign value for wng voters over.
A Big "NO. NO. NO. NO".
But there have always been arguments like this.
Whether or not India's emergence as the world's third-largest economy is significant depends on how one defines substantial."
On the one hand, for a country with a population of over 1.3 billion people to be a significant economic power is an achievement. It would be a sign of India's growing global power and influence.
However, the size of a country's economy is not the most significant indicator of its success. Many other factors, such as quality of life, inequality, and environmental sustainability, contribute to a country's prosperity.
Whether or not India becomes the third-largest economy is ultimately a matter of personal preference. There are valid arguments on both sides.
It would give India greater weight in the world economy, and India could play a better role in international organizations and talks.
If India's economy appears strong and growing, foreign investors will be more likely to invest, potentially leading to increased international investment and beneficial economic growth.
It would create jobs, and a booming economy would lead to more job opportunities for Indians.
People's standard of living would increase. A develo economy would lead to higher incomes and better opportunities for Indians.
The benefits of economic growth would not necessarily be evenly distributed, with the rich getting richer and the poor getting poorer.
An expanding economy would consume more resources and harm the environment.
It would increase the likelihood of financial disasters. Financial crises are more likely in a large and complex economy.
India's status as the world's third-largest economy has the potential for a positive impact if its growth is managed well. Economic progress can improve people's lives, but a lack of proper management can lead to inequality and environmental degradation.
To me it would only matter when India becomes larger than China and 4x larger than USA(ie equal on per capita basis). I am not shooting for $5T economy. We have to be $500T economy to be able to do so(by that time USA might be $100T+ and China be similar to India).
To reach that it has to be where it was in 1700 and I am confident by 2100 we will be there again.
Of course it does. India’s economy will provide power and influence to the whole world. India will not just be like that, it will be a powerful entity that’s going to compete against United States, EU and China as a whole. So India’s economy does matter. It provides us an exclusive study that services, which is India’s main sector for its GDP, will provide a healthy growth to the economy. While China provides manufacturing for its GDP growth. That will be a model for other countries to come and show. For that, India’s economy will be copied by countries that stayed on the middle income trap like the countries in South and Central America, ASEAN, Global South, Middle East and many more.
No, it does not matter.
Largest economy in simple language is the amount of Sales being done, ie 3rd largest GDP.
It gives the market size for investors, for a country it is the total Sales done.
But what actually matters is the per capita income for citizens.
There are countries with less GDP than us, but better per capita incomes, which makes their life improved.
The govt need to look, out these business activities, how much they can do for per capita income.
Who told you that.?
The median income is Rs 4,500/- PM. The average figure is high as 5 % are super rich , but more than 50% live below the median .
How does it matter where are economic ranking goes ?
The poor are still in the same situation. All fake inflated figures don't make for a develo economy.
YES! I It matters a lot! Because you are the BIGGEST LIAR perpetuating the biggest falsehood of the useless Modi Sarkar! India wll never ever be the Third or the Fifth or even the Sixth largest economy even in this Holocene Epoch or the next Geologist Epoch! You liar does India have the power/capacity to replace Japan, the UK, France on the economic hierarchy of the world stage? After Brext the Uk economy is poised to rise to greater heights! Stop blabbing nonsense and stop lying! Look at the pathetic conditions of our country! In 2000 1 Swiss Franc was equivalent to about ₹30/-!! Today it is a whop ₹96/- just in 22 years!! You will shamelessly give some idiotic excuses to not accept this pathetic fact!! Stop blatantly lying! You set a bad example to young students! You are SHAMELESS!