In a matter of six years, India emerged as the world's third-largest economy in 2011 from being the 10th largest in 2005, moving ahead of Japan, while the US remained the largest economy closely followed by China, latest figures have revealed.
China and India are poorer than we thought; rich countries produce even more than we realised. Those are the obvious conclusions from an unprecedented exercise, carried out by a World Bank-led coalition.
India's 9 per cent GDP growth may not mean much for the masses, going by an ADB study which says India is ranked 17 among 23 when economies are compared based on a measure of people's economic well-being.
The US is likely to have per capita GDP of $57,455, about 20 times India's, indicative of how far India will stand in about a decade.
ADB's calculations imply almost half of India's population (47.7 per cent) was below the line in 2010. Both these estimates are based on the year 2005's purchasing power parity rates.
India also fares poorly on maternal mortality rate.
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