PIB Corner
India 3rd-Largest Economy on PPP Basis for 2017
- India has retained its position as the third-largest economy after China and the US in terms of purchasing power parity (PPP) for 2017, according to a government release that quoted the World Bank data.
- India is also third-largest economy in terms of its PPP-based share in global actual individual consumption and global gross capital formation.
- The World Bank has released new PPPs for the reference year 2017, under the International Comparison Program (ICP) that adjust for differences in the cost of living across economies of the world.
- The ICP is the largest worldwide data collection ....
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