INDIA BECOMES THE THIRD LARGEST ECONOMY IN THE WORLD.
India Has displaced Japan to become the world's Third largest Economy
in terms of Purchasing Power Parity(PPP) according to a World Bank
Report released recently.
The last survey in 2005 had placed the country on 10th place.India's
share in World GDP in terms of PPP was 6.4% in 2011 compared with
China's 14.9% and the US 17.1%.
But according to International Monetary Fund (IMF),India's economy is
12th largest and only about a third of Japan in terms of absolute