When was India richer than China?

When Was India Richer Than China?

India and China have long been rivals in the economic sphere, with both countries vying for the title of the world’s largest economy. But when was India richer than China?

At the exchange rate basis, China crossed the $1 trillion mark in 1998, while India crossed the same mark nine years later in 2007. This means that, at the exchange rate basis, India was not richer than China until 2007.

However, when it comes to GDP per capita terms, the picture is slightly different. According to the World Bank, India was richer than China in 1990. This is because India’s GDP per capita was higher than China’s at the time.

Since then, both countries have seen their economies grow at a rapid pace. India’s GDP per capita has more than doubled since 1990, while China’s has almost tripled. This means that, in terms of GDP per capita, both countries are now neck-and-neck.

So, when was India richer than China? The answer depends on which measure you use. At the exchange rate basis, India was not richer than China until 2007. However, in terms of GDP per capita, India was richer than China in 1990.

It is clear that both countries have seen their economies grow significantly over the past few decades. India’s GDP per capita has more than doubled since 1990, while China’s has almost tripled. This means that both countries are now neck-and-neck in terms of GDP per capita.

It is also worth noting that both countries have seen their economies become more interconnected in recent years. This has led to increased trade and investment between the two countries, which has further strengthened their economic ties.

In conclusion, when was India richer than China? At the exchange rate basis, India was not richer than China until 2007. However, in terms of GDP per capita, India was richer than China in 1990. Both countries have seen their economies grow significantly since then, and they are now neck-and-neck in terms of GDP per capita.