Is India rich or poor?

Is India Considered Rich or Poor?

India is categorized as a developing and emerging nation, classified as a lower-middle-income economy. It features a mixed economy and is often seen as a newly industrialized country that operates under a welfare state framework. Furthermore, it exhibits characteristics of a socialist state.

Statistics:

• Population: Approximately 1.43 billion (1st position; estimated for 2024)
• GDP: $3.89 trillion (nominal; estimated for 2024) and $16.02 trillion (PPP; estimated for 2024)
• GDP Ranking: 5th (nominal; 2024) and 3rd (PPP; 2024)