India ranks 126th in terms of per capita gross domestic product (GDP) of countries, but is still behind its BRICS peers, according to the latest World Economic Outlook report of the International Monetary Fund (IMF). India’s per capita GDP rose to $7,170 in 2017 from $6,690 last year, pushing its rank higher by a position. Qatar is the richest in this index.

Qatar’s per capita GDP is $1,24,930, followed by Macao with $1,14,430 and Luxembourg with $1,09,190. Among BRICS nations, Russia’s figure is $27,900, and for China, Brazil and South Africa, the figures are $16,620, $15,500 and $13,400 respectively, a news agency report said citing the IMF report.

The IMF ranks over 200 countries in this index based on purchasing power parity (PPP), which is the rate at which the currency of one country needs to be converted into that of a second country to ensure that a given amount of the first country’s currency will purchase the same volume of goods and services in the second country as it does in the first.

The top 10 countries in this ranking include Singapore (4th, $90,530), Brunei (5th, $76,740), Ireland (6th, $72,630), Norway (7th, $70,590), Kuwait (8th, $69,670), United Arab Emirates (9th, $68,250) and Switzerland (10th, $61,360).

The United States ranks 13th, with a per capita GDP of $59,500. (DS)

Fibre2Fashion News Desk – India

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