On: India to topple Japan as world's 3rd-largest econo...

[ashishgandhi]

India to finally (hopefully) "topple" war-troublled Iraq as the world's 128th country in terms of income per capita by purchasing power parity. (http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_...)

Or Mongolia for the 133rd position, depends upon who's list you look at.

Don't forget the huge income inequality.

[thewisedude → ashishgandhi]

OK...like many countries with big population...there is significant income inequality. 400 of the richest americans have more wealth than 150 million americans. Getting back to your point -> So how should that affect the fact that India is about to be the 3rd largest economy?

[pirate_is_back → ashishgandhi]

Per capita income is extremely low in India. But things are improving.

India's growth is mainly because of growth of service industry, manufacturing and modern agriculture techniques. The countries that you have mentioned have higher per capita income because of huge natural resources and less population.

Iraq -> Huge Oil reserves / Small population

Mongolia -> Huge mineral resources / tiny population

[ashishgandhi → pirate_is_back]

The countries I mention here are because they are directly above India on that list.

I'm hoping you are not trying to say you need a lot of natural resources and less population to be rich.

Singapore -> Almost no resources, pretty dense population. Singapore is much much ahead.