Comparing Indian business situation with successful Pacific

[Joydeep Mitra]

Well, those are UN figures! $360 => ~Rs11,160. There are many, many Indians
who 'live by' with that kind of money the 'whole' year -it is true, really.
The standard of such 'living' is obviously vastly different from  those  in
'rich' countries.

There is another scale (also from the UN) which uses the 'buying power'  of
the people of a country (correcting for currency exchange rates)  - in that
scale the per capita GDP (buying power index) of India is higher than $360.

On Fri, 25 Aug 1995, L.S.Cousins wrote:

> Joydeep Mitra writes:
> 
> >The per capita GDP of China is ~$420 and that of India is ~$360.
> 
> A quibble. Surely such figures should not be quoted (in an academic
> context, at least). Clearly, if the annual income of the average Indian was
> ~$360, then the average Indian would be dead within three months ! This
> kind of figure is a rather misleading artefact of exchange rates. I have
> seen even more absurd figures quoted for Africa.
> 
> Lance Cousins
> 
> MANCHESTER, UK
> Email: mhcrxlc at dir.mcc.ac.uk