2020
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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7
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3
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2
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5
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Detailed explanation-1: -In 2017, India retained and consolidated its global position, as the third largest economy, accounted for 6.7 percent ($8, 051 billion out of World total of $119, 547 billion) of global Gross Domestic Product (GDP) in terms of PPPs as against China (16.4%) and United States (16.3%), respectively.
Detailed explanation-2: -Currently, India is the third largest economy in the world in terms of purchasing power parity (PPP) terms, with a share of 7 per cent of global GDP [after China (18 per cent) and the US (16 per cent)]. India’s GDP in market exchange rates is expected to reach US$ 5 trillion by 2027.
Detailed explanation-3: -India accounts for 6.7% or $8, 051 billion, out of the world’s total of $119, 547 billion of global Gross Domestic Product (GDP) in terms of PPP compared to 16.4 % in case of China and 16.3 % for the US, World Bank data for reference year 2017 show.
Detailed explanation-4: -Purchasing Power Parity India India holds the third position in terms of Purchasing Power Parity.