rank of indian economy in terms of nominal gdp
Economy of India The economy of India is an underdeveloped mixed economy.[33] It is the world's seventh-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP). The country ranks 141st in per capita GDP (nominal) with $1723 and 123rd in per capita GDP (PPP) with $6,616 as of 2016.[34][35] After 1991 economic liberalisation, India achieved 6-7% average GDP growth annually.[36][37] In FY 2015 India's economy became the world's fastest growing major economy surpassing China.[38] The long-term growth prospective of the Indian economy is positive due to its young population, corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy.[39][40]
Economy of the United States U.S. nominal GDP was $19.5 trillion in 2017. Annualized, nominal GDP reached $20.1 trillion in Q1 2018, the first time it exceeded the $20 trillion level. About 70% of U.S. GDP is personal consumption, with business investment 18%, government 17% (federal, state and local but excluding transfer payments such as Social Security, which is in consumption) and net exports a negative 3% due to the U.S. trade deficit.[89] Real gross domestic product, a measure of both production and income, grew by 2.3% in 2017, vs. 1.5% in 2016 and 2.9% in 2015. Real GDP grew at a quarterly annualized rate of 2.2% in Q1 2018 and 4.1% in Q2 2018 under President Trump; the Q2 rate was the best growth rate since Q3 2014.[90]