India ranks No. 10 Economy in the world!

India is the 10th largest economy in the world per the rankings released by World Bank. Its old news but of late am getting interested in this kind of data. India's GDP for the year 2004 is $691.876 billion. Well - if this seems a lot - we are way behind US (1st with $11,667.515 billion) and China (7th with $1,649.329 billion). Look here for the complete 2004 economy rankings.

As mentioned in my earlier article "Time for P-8 list of countries" - India ranks 4th only behind US, China and Japan ranked by PPP. So with India surging up in the GDP rankings - for sure India will be a force to reckon with in the economy front. I have no clue on a projection and how it can increase, etc. Its kinda interesting for the Finance Pundits to predict such stuff and some working towards reaching higher numbers for the country. Wow - that is a job! Sometimes I feel great about delivering a small module in a project for one business area for a client! Probably back in India all this drops forms an ocean!

In simple terms GDP means - "The total market value of goods and services produced domestically during a given period. The components of GDP are consumption (both household and government), gross investment (both private and government), and net exports."

There is tons of information in the World Bank site. Quick reference link gives information about PPP and GDP and you can even find data by each country and category. Check out the news in Rediff