Source: This insight came from my morning journal entry.
I just had one of those moments. You know the kind—the ones that hit you out of nowhere and reframe everything you’ve been thinking about.
Here’s what I realized: India has basically already arrived.
We’ve been so caught up in comparing ourselves to China and America using nominal GDP figures that we’ve missed the obvious. On a purchasing power parity basis, we’re already the third largest economy in the world. Number three. And the only reason we look smaller is because the dollar keeps getting stronger, making our economy seem tiny in comparison.
But here’s the kicker: if India actually pulls off Make in India—if we manufacture and consume most things in-house—we’re basically equivalent to China or America within a few years.
Think about it. We’re already there in terms of actual economic activity, actual production, actual consumption. The rupee just doesn’t buy as many dollars as it used to. That’s it. That’s the only difference.
We’re already toe-to-toe with the biggest economies. We just haven’t internalized it yet. We still act like the underdog, like we’re playing catch-up, like we need permission to sit at the grown-ups’ table.
Fuck that.
We’ve kind of already arrived. The potential is already realized—we just need to stop importing everything and start manufacturing,, big time.
The infrastructure is being built. The manufacturing is ramping up. The world is already looking at us differently.
Maybe it’s time we looked at ourselves differently too.
Related: For more on the India vs China economic comparison, see this analysis.