India, the 3rd largest economy on PPP
The next ICP comparison will be Conducted for reference year 2021 Purchasing Power Parities and the size of Indian Economy: Results from the 2017 International Comparison Program The World Bank has released new Purchasing Power Parities (PPPs) for reference year 2017, under International Comparison Program (ICP), that adjust for differences in the cost of living across economies of the World. Globally 176 economies participated in 2017 cycle of ICP. The International Comparison Program (ICP) is the largest worldwide data-collection initiative, under the guidance of UN Statistical Commission (UNSC), with the goal of producing Purchasing Power Parities (PPPs) which are vital for converting measures of economic activities to be comparable across economies. Along with the PPPs, the ICP also produces Price Level Indices (PLI) and other regionally comparable aggregates of GDP expenditure. India has participated in almost all ICP rounds since its inception in 1970. The ...