The ratio between India’s GDP per capita and the average of developing countries has increased from 30% to 42% in the last 10 years, according to an article published on May 2 on the website of the Indian television channel News18.
The publication, citing IMF data, claims that over the past decade, living standards in India have grown significantly faster than in other developing countries.
“In terms of GDP, during the last 10 years of the Modi government, India has taken a huge leap and has surpassed the five weakest economies in the world.”points out the article.
For comparison, the following data is provided. India’s GDP per capita in 2004 was $635, which was 35% of the average GDP per capita of $1,790 of 150 developing countries. However, by 2014, this proportion had fallen to 30%, meaning India became relatively poorer.
Experts expect India’s GDP per capita to rise to $2,850 in 2024, 42% of peer countries’ $6,770.
Recall that in early April, Reuters, citing an Indian government document, reported that Indian authorities intend to increase India’s GDP to approximately $6.7 trillion by 2030 from the current $3.5 trillion. .
Source: Rossa Primavera
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