India is the 10th wealthiest nation in the world, US leads{-real achievement in 50 years after beiing looted for 300 years by Britain}


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The global contribution to world's GDP by major economies from 1 AD to 2003 AD according to Angus Maddison's estimates.[23] Before the 18th century, China and India were the two largest economies by GDP output.

The fall of the Rupee

See also: The crisis of silver currency and bank notes (1750–1870)
After its victory in the Franco-Prussian War (1870–71), Germany extracted a huge indemnity from France of £200,000,000, and then moved to join Britain on a gold standard for currency. France, the US and other industrialising countries followed Germany in adopting a gold standard throughout the 1870s. At the same time, countries, such as Japan, which did not have the necessary access to gold or those, such as India, which were subject to imperial policies that determined that they did not move to a gold standard, remained mostly on a silver standard. A huge divide between silver-based and gold-based economies resulted. The worst affected were economies with a silver standard that traded mainly with economies with a gold standard. With discovery of more and more silver reserves, those currencies based on gold continued to rise in value and those based on silver were declining due to demonetisation of silver. For India which carried out most of its trade with gold based countries, especially Britain, the impact of this shift was profound. As the price of silver continued to fall, so too did the exchange value of the rupee, when measured against sterling.

British Raj

Comparative Indian and UK populations and GDP per capita: 1600-1871 (1990 international $)[28][29]
GDP per capita
Year India ($) UK ($) Ratio (%) Population India (m) UK (m)
1600> 792 >1,481 53.4 142 5
1650 746 1,463 51.0 142 5.8
1700 728 1,809 40.3 164 8.8
1751 669 1,842 36.3 190 9.2
1801 646 1,985 32.6 207 16.3
1811 617 2,083 29.6 215 18.5
1821 587 2,080 28.2 205 21.0
1831 592 2,228 26.6 216 24.1
1841 592 2,404 24.6 212 26.9
1851 594 2,718 21.9 232 27.5
1861 562 3,124 18.0 244 29.1
1871> 533 >3,676 14.5 256 31.6
The newly independent but weak Union government's treasury reported annual revenue of £334 million in 1950. In contrast, Nizam Asaf Jah VII of south India was widely reported to have a fortune of almost £668 million then.[38] About one-sixth of the national population were urban by 1950.[39] A US Dollar was exchanged at 4.79 Rupees

India is the 10th wealthiest nation in the world, US leads

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Last updated on: October 29, 2015 11:41 IST
In the top 20 list for total individual wealth, India bettered Spain, Brazil, South Korea, Switzerland, Mexico, Netherlands, and Belgium, among others.  

Image: India is ranked 10 among the 20 wealthiest countries in the world in terms of private wealth held by individuals. Photograph: Reuters
India is ranked 10 among the 20 wealthiest countries in the world in terms of private wealth held by individuals, says a report by Johannesburg-based The New World Wealth, a research consultancy that tracks the global wealth sector.
The value of total individual wealth in India - which includes property, cash, equities and business interests - is pegged at $3,492 billion in 2015, said the report titled The W20: The 20 Wealthiest Countries in the World .
 Meanwhile, take a look at the top ten wealthiest nations in the world.....
 
Image: A child plays near the ice-covered Josephine Shaw Lowell Memorial Fountain, in frigid temperatures in Bryant Park in the Manhattan borough of New York city. Photograph: Mike Segar/Reuters 
Country: US
Rank: 1
Individual wealth: $48,734 billion

Image: China is at second position in the world's welathiest nations list. Photograph: Reuters
Country: China
Rank: 2
Individual wealth: $17,254 billion

Image: Women walk under ginkgo trees in Tokyo. Photographs: Yuriko Nakao/Reuters
Country: Japan
Rank: 3
Individual wealth: $15,230 billion

Image: Hat designer Fiona Bennett and her assistants work at Potsdamer Street in Berlin.
Photographs: Thomas Peter/Reuters
    
Country: Germany

Rank: 4
Individual wealth: $9,358 billion

Image: Britain's Queen Elizabeth speaks with a member of staff as she inspects a tube train during her visit to Baker Street underground station in London. Photograph: Chris Radburn/Reuters.
Country: UK
Rank: 5
Individual wealth:9052BILLION=LOOTED FROM INDIA

Image: The Cour Carree of the Louvre Museum is reflected on a giant mirror installed for the French fashion house Christian Dior Autumn/Winter 2015/2016 women’s ready-to-wear collection show during Paris Fashion Week. Photograph: Charles Platiau/Reuters
Country: France
Rank: 6
Individual wealth: 8,722 billion

Image: Italy is in the top ten list of world's most wealthiest nations. Photograph: Reuters
Country: Italy
Rank: 7
Individual wealth: $7,308 billion

Image: Canada is also one of the wealthiest countries in the world. Photograph: Reuters
Country: Canada
Rank: 8
Individual wealth: $4,796 billion

Image: Shoppers are seen at an outdoor mall in Melbourne. Photograph: Mick Tsikas/Reuters
Country: Australia
Rank: 9
Individual wealth: $4,497 billion

Image: Tourists outside the Taj Hotel in Mumbai. Photograph: PTI
Country: India
Rank: 10
Individual wealth: $3,492 billion
ADD THE 9000 BILLION LOOTED BY BRITAIN FROM INDIA ;AND INDIA BECOMES 4TH

The global contribution to world's GDP by major economies from 1 AD to 2003 AD according to Angus Maddison's estimates.[23] Before the 18th century, China and India were the two largest economies by GDP output.

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The East India Company was launched in 1600 but it conducted its 1st century in relatively desultory fashion, coastal forts; engaging in trade;