India is 6th largest economy with least per capita income

In 2023, the world economic landscape will be dominated by great powers such as the United States of America, China, Japan and Germany, as well as by the emerging giant India.

However, despite its position as the sixth largest economy in the world, India faces a unique challenge with its relatively low per capita income compared to the other major economies.

While GDP remains a key metric in assessing a nation’s economic strength, the State of India highlights the importance of examining per capita income as a crucial indicator of individual prosperity within the country.

India’s lower per capita income is rooted in several socioeconomic factors. The nation’s vast population of more than 1.3 billion people presents a complex challenge to ensure the equitable distribution of wealth and resources.

Economic disparities between regions and communities further exacerbate the income gap, creating pockets of prosperity amid areas struggling with poverty and economic hardship.

Largest economy with least per capita income

1. United States of America

• GDP: $26,854 billion
• Per Capita GDP: $80,030
• Annual GDP Growth Rate: 1.6%

2. China

• GDP: $19,374 billion
• Per Capita GDP: $13,720
• Annual GDP Growth Rate: 5.2%

3. Japan

• GDP: $4,410 billion
• Per Capita GDP: $35,390
• Annual GDP Growth Rate: 1.3%

4. Germany

• GDP: $4,309 billion
• Per Capita GDP: $51,380
• Annual GDP Growth Rate: -0.1%

5. India

• GDP: $3,750 billion
• Per Capita GDP: $2,600
• Annual GDP Growth Rate: 5.9%

6. United Kingdom

• GDP: $3,159 billion
• Per Capita GDP: $46,310
• Annual GDP Growth Rate: -0.3%

7. France

• GDP: $2,924 billion
• Per Capita GDP: $44,410
• Annual GDP Growth Rate: 0.7%

8. Italy

• GDP: $2,170 billion
• Per Capita GDP: $36,810
• Annual GDP Growth Rate: 0.7%

9. Canada

• GDP: $2,090 billion
• Per Capita GDP: $52,720
• Annual GDP Growth Rate: 1.5%

10. Brazil

• GDP: $2,080 billion
• Per Capita GDP: $9,670
• Annual GDP Growth Rate: 0.9%

These countries play vital roles in the global economy, boasting diverse industries and promising growth prospects.

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