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India is the cheapest major economy in the world

Last updated on: April 9, 2013 09:34 IST

India is the cheapest major economy in the world

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Australia and Japan are very expensive for a wide range of products while the United States is generally the cheapest developed country, according to Deutsche Bank.

In a survey of prices and price indices of a wide array of goods and services from around the world, Deutsche Bank's study 'Mapping the World's Prices' reveals that a weaker currency has also made Britain and Brazil a bit more affordable in dollar terms.

The good news is that India remains the cheapest major economy in the world with a weaker exchange rate compensating for higher inflation (except for a few items like fuel).

China is still cheaper than most of the world but the gap appears to be gradually narrowing.

Click NEXT to read more about prices of different products and services in India and other countries...



Image: School children dressed in tri-colours of India's national flag, offer prayers on the eve of the country's Independence Day celebrations in Ahmedabad.
Photographs: Amit Dave/Reuters.

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A litre of petrol costs $1.38 (Rs 75.28) in India while its costs $2.08 (Rs 113.46) in United Kingdom and $2.27 (Rs 123.83) in Hong Kong.

Exchange rate: Rs 54.55/USD

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Image: A worker (R) fills plastic containers with petrol at a pump in Kolkata.
Photographs: Parth Sanyal/Reuters.

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While Zurich, Tokyo and Oslo top the cost of living index, Mumbai is among the cities with a low cost of living.

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Image: The Taj Mahal Hotel in Mumbai.
Photographs: Reuters
Tags: Mumbai , Zurich , Oslo , Tokyo , India

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One kg loaf of bread costs $0.86 (Rs 46.94) in Mumbai while it is priced at $9.40 (Rs 512.77) in Caracus.

Mumbai, Delhi and Johannesburg are the cheapest place for going on a movie and-pizza date while Australian cities are the most expensive.

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Image: R City Mall.


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Mexico City is the cheapest major city in the world to hire and deploy a MBA graduate. Berlin and Singapore also seem attractive for deploying a graduate.

Indeed, they are not just cheaper than major global financial centers like New York and Hong Kong but even compared to Mumbai.

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Image: IIM, Ahmedabad.


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While a Big Mac costs $1.67 (Rs 91.10) in India, it costs $2.57 (Rs 140.19) in China, $5.64 (Rs 307.66) in Brazil and $4.37 (Rs 238.38) in United States.

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Photographs: Toshiyuki Aizawa/Reuters.

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Sydney remains the most expensive place for a weekend holiday at almost double the cost of doing the same in New York.

Moscow and Sao Paulo too are very expensive. Indian cities like Mumbai and Delhi are the cheapest but Kuala Lumpur is just as affordable. 

Tokyo was the real surprise with a weekend getaway now costing only 75 per cent of New York.

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Image: An aerial view of Sydney's Opera House and Circular Quay in the city's central business district.
Photographs: Mark Baker/Reuters.

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India is the cheapest major economy in the world

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A car rental for a day costs $40.6 (Rs 2214.73) in India while the highest car rental in France at $188 (Rs 10,255.40).

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Image: Meru Cabs.
Photographs: Courtesy, Meru.
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A five star hotel costs $216 (Rs 11,782.80) in Bangalore and $155 (Rs 8,455.25) in Mumbai.

In Sydney, a five star hotel costs $933.2 (Rs 50,895.15), followed by $576.6 (Rs 31,420.80) in Brazil.

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Image: The Oberoi, Mumbai.


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A two litre bottle of Coca Cola costs $1.07 (Rs 58.37) in India while it costs the highest of $3.48 (Rs 189.83) in Melbourne.

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A pair of sports shoes costs $63.67 (Rs 3,473.20) in India. It costs $70 (Rs 3,818.50) in United States and $159.79 (Rs 8,716.54) in Japan.

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Photographs: Claro Cortes IV/Reuters.

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Public transport (a single bus or train ride) comes at a cheap $0.18 (Rs 9.82) in India while it is as high as $2.97 (Rs 162.01) in Canada.

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Photographs: Reuters.
Tags: India , Canada

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A cab ride for 3 kilometres costs $1.04 (Rs 56.73) in Mumbai. It costs $14 (Rs 763.70) in Los Angeles and $14.45 (Rs 788.25) in New Zealand.

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Image: A driver stands amid parked taxis near Santa Cruz domestic airport in Mumbai.
Photographs: Vivek Prakash/Reuters.

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Indian cities are usually cheap but pizzas cost the same as in New York. Singapore is a cheap place to get an MBA but not if you want a car or a pair of Levi's jeans.

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Photographs: Danish Siddiqui/Reuters.

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Price of a new Volkswagen Golf 2.0 TDI (or equivalent) is $19,273.86 (Rs 10,51,389.06) in India. It costs a whopping $110,381.18 (Rs 60,21,293.37) in Singapore.

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Image: Volkswagen Golf.

Tags: India , TDI , Singapore

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Office space rental is $12.44 (Rs 678.60) in Bangalore, $178.34 (Rs 9,728.45) Hong Kong and $90.26 9 (Rs 4,923.68) in Paris.

(The average rent quoted per square foot per annum for a Class A office building within the CBD without additional costs such as property taxes, service charges or operating expenses.)

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Image: Cisco, Bangalore.


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A movie ticket costs $4.01 (Rs 218.75) in India while it is priced at $58.50 (Rs 3,191.17) in Mexico.

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Image: Nirmal Lifestyle, Mumbai.

Tags: India , Mexico

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A medicine against common cold for 6 days costs $2.51 (Rs 136.92) in India. It costs $14.23 (Rs 776.25) in San Francisco and $14.18 (Rs 773.52) in Hong Kong.

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Photographs: Uttam Ghosh/Rediff.com.

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An Apple Macbook costs $1,827.54 (Rs 99,692.31) in India. It costs $2,197.32 (Rs 1,19,863.81) in United Kingdom and $1,984.72 (Rs 1,08,266.48) in China.

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Image: MacBook Pro retina display is the world's highest resolution notebook display.
Photographs: Courtesy, Apple.

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A month's gym membership in Mumbai costs $45.37 (Rs 2,474.93), $150.19 (Rs 8,192.86) in Moscow and $139.95 (Rs 7,634.27) in Tokyo.



Image: A bus speeds past Chhatrapati Shivaji Terminus in Mumbai
Photographs: Arko Data/Reuters.
Tags: Tokyo , Moscow , Mumbai , India

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