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Income of Indians will double faster than...
Until recently, average incomes in advanced countries were increasing at much faster rates than in the rest of the world.
But now the cycle has turned.
Average incomes of those working in the developing countries are projected to increase at a much faster rate than in the developed world, according to a study conducted by Angus Maddison, University of Groningen, McKinsey, IMF and The Economist.
Let's see in how many years the GDP will double in selected countries, including India.
NOTE: GDP is at purchasing-power parity
Forecast is based on average growth, 2011-2016
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Income of Indians will double faster than...
India
GDP will double in how many years: 9
GDP per person (2011): $3,700
Population (2011): 1.2 billion
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Income of Indians will double faster than...
China
GDP will double in how many years: 7
GDP per person (2011): $8,400
Population (2011): 1.3 billion
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Income of Indians will double faster than...
South Korea
GDP will double in how many years: 14
GDP per person (2011): $31,800
Population (2011): 49 million
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Income of Indians will double faster than...
Japan
GDP will double in how many years: 23
GDP per person (2011): $34,400
Population (2011): 128 million
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Income of Indians will double faster than...
The United States
GDP will double in how many years: 24
GDP per person (2011): $48,100
Population (2011): 313 million
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Income of Indians will double faster than...
The United Kingdom
GDP will double in how many years: 25
GDP per person (2011): $36,000
Population (2011): 63 million
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Income of Indians will double faster than...
Germany
GDP will double in how many years: 27
GDP per person (2011): $37,900
Population (2011): 81 million