When you think about how big India is in sheer geographical size and how big their population is. I mean because it is amazing how our small humble country has a higher GDP.
How is our GDP so much higher than India's? Watch
- Thread Starter
- 17-01-2015 12:16
- 17-01-2015 12:23
More developed, India's economy is growing quite fast, I dont think it will be too long before they leave us behind.
- 17-01-2015 12:27
India has very bad infrastructure to develop a substantial level of business activities or even to really track all the business activities that's happening there. They couldn't even properly track their population growth.
They also have a much lower standard of living, whilst Britain is one of the most expensive. This means each sale is worth a lot more GDP-wise in the UK. And their population hasn't gotten nearly the same level of purchasing power.
They likewise didn't have much higher level industries. The finance industry brings in a lot of money easily just by trading things virtually.
Having large pieces of land means nothing. Canada is very well developed and is the second-biggest country in the world, yet their GDP is not one of the highest in the world. Population would increase GDP but all the factors mentioned above made it difficult for India to be above the UK even with that.