Talk:Economy of India

Semi-protected edit request on 19 November 2023

RishiGupta9424 (talk) 10:33, 19 November 2023 (UTC)

India's nominal GDP has been increased from 3.73 trillion dollars to 4.03 trillion dollars. But Wikipedia has not updated it.

 Not done: please provide reliable sources that support the change you want to be made. — Paper9oll (🔔 • 📝) 17:51, 19 November 2023 (UTC)

India's GDP has crossed 4 trillion dollars mark.

If many Indian news sites are to be believed then India's GDP has crossed the 4 trillion dollars mark. If it's not a fake news then this should be updated here. 203.81.242.243 (talk) 04:19, 20 November 2023 (UTC)

This is based on an unverified screengrab from the live tracking GDP feed for all countries based on International Monetary Fund (IMF) data.^[1]

Wikipedia is based on what reliable sources say. The most recent IMF World Economic Outlook database figures predict that India's GDP will be 4,105 billion dollars in 2024, and 4,512 billion dollars in 2025. But now is 2023, the India's 2023 GDP is given as 3,732 billion dollars.-- Toddy1 (talk) 09:39, 20 November 2023 (UTC)

And here is another URL that also has the story about the unverified screengrab.^[2]-- Toddy1 (talk) 10:25, 20 November 2023 (UTC)

Market cap of BSE listed firms hit 4 trillion dollar market cap. Mark.

Sources: https://www.business-standard.com/markets/news/indian-markets-hit-historic-4-trn-market-cap-milestone-for-the-first-time-123112900205_1.html , https://www.financialexpress.com/market/historic-day-for-markets-bse-listed-companies-surpass-4-trillion-market-capitalization-3320567/ LakhnawiNawab (talk) 13:46, 29 November 2023 (UTC)

India is 3rd Largest Consumer Market not 6th.

The source in the article for the claim that India is 6th Largest is Nominal Household Expenditure not PPP Household Expenditure. According to PPP Household Expenditure India is 3rd Largest Consumer Market. Using Nominal Household Expenditure as a measure of how Large or Small a Consumer Market of a Country requires the Assumption that the Law of One Price is True or (Approximately True).

While Assuming LOP Holds is Reasonable to Make for Tradable Goods it doesn't hold for Non-Tradable Goods and Services as the Prices of Non-Tradables Deviate Heavily from Law of One Price (Presumably Due to Balassa–Samuelson Effect) Hence the Size of Rich Countries Consumer Market would be Over-Estimated Significantly and Size of Poor Countries Consumer Market would be Under-Estimated Significantly if Household Expenditure of Various Countries Consists Mainly of Non-Tradable Goods and Services.

Hence due to this Assumption being Likely Incorrect I suggest replacing the Text in the Article with the Correct Description that India is 3rd Largest Consumer Market.

Thanks.

Source for PPP Household Expenditure: https://data.worldbank.org/indicator/NE.CON.PRVT.PP.CD?most_recent_value_desc=true 45.251.35.232 (talk) 09:25, 2 December 2023 (UTC)

What you are doing is what Wikipedia calls "original research". In other words, you are drawing your own conclusions from the sources. If your conclusions are reasonable, there will be reliable published sources that explicitly make the same conclusions. You need to see whether this is the case, and then come back citing those sources, and with quotations from those sources.-- Toddy1 (talk) 14:15, 2 December 2023 (UTC)

Sir with due respect thanks for reply but its well known that Law of One Price is not applicable for Non-Tradable Goods and Services. Its called the Penn/Balassa Samuelson Effect. Its the main reason Purchasing Power Parities were invented. But the source for this is right on the World Bank page I linked earlier. Make sure to click "Details" 45.251.35.232 (talk) 20:22, 2 December 2023 (UTC)

"Typically, higher income countries have higher price levels, while lower income countries have lower price levels (Balassa-Samuelson effect). Market exchange rate-based cross-country comparisons of GDP at its expenditure components reflect both differences in economic outputs (volumes) and prices. Given the differences in price levels, the size of higher income countries is inflated, while the size of lower income countries is depressed in the comparison. PPP-based cross-country comparisons of GDP at its expenditure components only reflect differences in economic outputs (volume), as PPPs control for price level differences between the countries. Hence, the comparison reflects the real size of the countries. For more information on underlying households and NPISHs final consumption expenditure in local currency, please refer to the metadata for "Households and NPISHs Final consumption expenditure, PPP (current international $)" [NE.CON.PRVT.PP.CD]. For more information on underlying PPP conversion factor, please refer to the metadata for "PPP conversion factor, private consumption (LCU per international $)" [PA.NUS.PRVT.PP]. For the concept and methodology of PPP, please refer to the International Comparison Program (ICP)’s website (worldbank.org/en/programs/icp)." 45.251.35.232 (talk) 20:23, 2 December 2023 (UTC)

With the greatest respect, you do not seem to understand Wikipedia's policy. Have you considered reading it? WP:OR.-- Toddy1 (talk) 21:49, 2 December 2023 (UTC)

Again This is not original research. There is even three Wikipedia articles explaining this with the appropriate citations. 106.198.88.174 (talk) 13:03, 4 December 2023 (UTC)

Just to clarify in case you are confused. All I am asking is to just replace this line

"The country remains the world's sixth-largest consumer market" and Source:https://data.worldbank.org/indicator/NE.CON.PRVT.CD?most_recent_value_desc=true&year_high_desc=true

With This Line :

"This Country remains the world's third largest consumer market" and Source:https://data.worldbank.org/indicator/NE.CON.PRVT.PP.CD?most_recent_value_desc=true

Notice I am using the Same Source (Data.Worldbank.Org) as the Current Text in the Article for its Claim that India is 6th Largest Consumer Market for the Source of My Claim that India is 3rd Largest Consumer Market. Only difference is I am pointing to the Correct Indicator in that Website.

If you have any issues with the Modification due to "Original Research" I want to know why that is considering I am using the Same Source as the Original Text.

Thanks. 106.198.88.174 (talk) 13:18, 4 December 2023 (UTC)

Long article

This article is too large (total number of words, too many sections) as per Wikipedia:Article size. Reading, editing and maintaining is too difficult. To maintain quality it should be summarised instead of expanding and adding sections. Dinesh | Talk 16:37, 15 December 2023 (UTC)

I'm mentioning recent editors. @Navi guy:@Rodw:@DataCrusade1999:@Toddy1:@Liz: Dinesh | Talk 16:45, 15 December 2023 (UTC)

Please could we remove sections such as Nationalization and De-regulation seems redundant to the topic Navi guy 08:32, 16 December 2023 (UTC)

I'm analysing article. It will take some weeks. Dinesh | Talk 04:52, 17 December 2023 (UTC)

Hi

https://www.reddit.com/r/india/comments/16fotb9/india_spends_big_on_what_it_needs_most_to_catch/ can you put this image of Mumbai financial capital in the first file picture or thumbnail it is the best possible image that I have found of Mumbai it is just like China's Lujiazui locality in Shanghai although it is not a locality like Lujiazui it's a image of Mumbai city or skyline from the view from the Mumbai coastal road. It is a view (from or) of the image of Mumbai from the Mumbai coastal road.

Mumbai coastal road (under construction grade separated expressway) view or image of Mumbai city or skyline. https://en.wikipedia.org/wiki/Coastal_Road_(Mumbai) — Preceding unsigned comment added by 2402:E280:3D48:133:E95F:259D:3C2:CD55 (talk) 05:10, 19 December 2023 (UTC)

Unfortunately it is not possible to change/upload the picture. Only images that are free to use, and uploaded by creater of image to Wikimedia Commons can be used. See Wikipedia:Uploading images Dinesh | Talk 08:12, 19 December 2023 (UTC)

Can't you right click, just open the image in a new tab on reddit and go to save images as, and then try and upload the image from your personal saved documents.

Here is the image again,

[3]https://images.wsj.net/im-849574/?width=2000&size=1.9493177387914

But I got this image from right clicking from the Wall Street journal and opening it on a new tab the news heading on it didn't come although it is a larger image. 2402:E280:3D48:133:1044:829B:C82C:4B58 (talk) 12:48, 19 December 2023 (UTC)