The Tale of Two GDP’s: Canada and India

India has been on a major economic growth trend for the last 14 year eclipsing Canada who has grown but not nearly at the same rate as the Asian superpower.

Back In 2009 Canada was still considered a G7 superpower ahead of India in terms of gross domestic product (GDP), then something changed.

The GDP graph below indicates India’s GDP in 2009 was 1.345 Trillion USD while Canada’s GDP was 1.375 Trillion, a tiny margin ahead.

**GDP Graph comparing Canada, India and Japan for 2009**

By 2010 the two countries started to take two different paths, one on a journey of stagnation the other on a journey of growth.

India then began to outpace Canada in terms of production for more than a decade, and had since added one trillion U.S.D of gross domestic product in that short time frame.

By 2022 the GDP growth trend was very clear with India at a record 3.417 Trillion USD and Canada at marginal 2.138 trillion USD.

In just over a decade Canada has plateaued economically while India has inclined and is on a trend to take over other nations in its path.

The South Asian superpower in now on pace to beat Japan in terms of total GDP by 2025, its already 2024 and both countries are very close.

Below is the top 10 ranking for GDP, while India is at the lowest end of the scale when it comes to GDP per capita, it is certainly climbing the ranks in terms of total GDP.

RANK	COUNTRY	2024 GDP (USD THOUSAND)	GDP PER CAPITA (USD THOUSAND)
1	USA	28,783	85.37
2	CHINA	18,536	13.14
3	GERMANY	4,590	54.29
4	JAPAN	4,112	33.14
5	INDIA	3,942	2.73
6	U.K.	3,502	51.07
7	FRANCE	3,132	47.36
8	BRAZIL	2,333	11.35
9	ITALY	2,332	39.58
10	CANADA	2,242	54.87

SOURCE FORBES: WORLD GDP RANKINGS 2024

As India becomes more developed and the people become more skilled, the GDP per Capita will only go up, as there is lots of room for growth.

In fact, if Indian employees and Indian businesses start making up ground in terms of production and income, India could become a strong competitor to China.

While India is expected to pass Japan and Germany within the next 2-5 years in terms of total GDP it might take 10 -20 years for India to reach China’s level.