NEW DELHI: India has retained and consolidated its position as the third-largest economy after China and the US in terms of purchasing power parity (PPP) for 2017, said the Government on Tuesday quoting the World Bank data.
PPP of the rupee per dollar at the gross domestic product (GDP) level rose to 20.65 in 2017 from 15.55 in 2011, while the exchange rate of a dollar to a rupee rose to 65.12 from 46.67 during the period.
Also, the Price Level Index (PLI), the ratio of a PPP to its corresponding market exchange rate, which is used to compare the price levels of economies, improved to 47.55 in 2017 from 42.99 in 2011.
“In 2017, India retained and consolidated its global position, as the third-largest economy, accounted for 6.7 per cent (USD 8,051 billion out of world total of USD 119,547 billion) of global GDP in terms of PPPs as against China (16.4 per cent) and the US (16.3 per cent), respectively. (AGENCIES)
Follow our WhatsApp channel
