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"We are the fourth largest economy as I speak. We are a USD 4 trillion economy as I speak," citing IMF data, Subrahmanyam said India today is larger than Japan.
"It is only US, China, Germany, which are larger than India and if we stick to what is being planned and what is being thought through, in 2.5-3 years, we will be the third largest economy."
Germany's a falling knife, right now. I'm sure India will pass it soon.
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Yes, I think it'll not take more than 2 years.
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Yeah but look at where that GDP occurs- nearly all of it is internal- India is still about 30th on the ranking of trading nations in terms of value of goods imported and exported. India is a giant self contained economy with very little external trade relative to its size- nearly all of its production and consumption is internal- it is not a big player in international trade. It is an insular, almost isolated, in terms of trade, giant. It is not competitive internationally because it is still riven with the dysfunctional political structures and economy left by British Imperialism. Unlike China, India has still not built its own governance structures and strategy to confront, adapt, contend and succeed in the global economy. It is instead consumed with its own internal and regional issues (often issues left by the British) and does not have a cohesive strategy to grow and advance its international competitiveness. Trumps sanctions may help somewhat, but they also might not and they are anyway to remain subject to the whims of an external power, not to be the driver of your own destiny.
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