India’s gross domestic product has topped $1 trillion, thanks to a strengthening rupee, making it the 12th country to achieve the milestone, Credit Suisse said on Thursday.
“Indian GDP at the current price level is 41 trillion rupees. With the rupee appreciating to below 41 against the US dollar, yesterday was the first day for the economy to be a trillion dollar economy,” the Swiss investment firm said in a note.
The rupee, which is trading around 40.76 to a dollar, has appreciated about 8.4 per cent this year and is up 15.4 per cent from a three-year low of 47.04 in July last year.
Stock markets in eight out of 10 countries had risen in the one year after their economies first crossed $1 trillion, Credit Suisse said.
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Author: Arun Prabhudesai
Arun Prabhudesai is founder / chief editor at trak.in. He jumped the Entrepreneurship bandwagon in early 2008 after a long 13 year stint in I.T Industry. You can follow him on twitter @trakin or get in touch with him at admin-at-trak-dot-in or 91.9822575676.Related posts:
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IT looks like a rosy picture with the Indian economy growing at almost 9%pa, the urban consumer spending increasing by leaps and bounds and India crossing the $1 trillion mark but there is still a long way to go before India becomes a super power in the world and every Indian live a life we had all cherished when we got freedom from the Britishers.There are still many people who cant even afford to have the basic ammenties of clear drinking water leave alone a proper shelter, no proper infrastructure and day in day out there are people being killed on roads because of negligent drivings.India has come a long way, accepted but it still a long long way to go till our 1 billion odd brothers and sisters leave a peaceful life.
There are still many people who cant even afford to have the basic ammenties of clear drinking water leave alone a proper shelter, no proper infrastructure and day in day out there are people being killed on roads because of negligent drivings.accepted but it still a long long way to go leave a peaceful life.