Friday, April 26, 2013

India the cheapest major economy: Pay less, live better

India is the cheapest major economy in the world, reveals 'Mapping the World's Prices 2013', a survey conducted by Deutsche Bank across 57 countries. Some examples of common disparities are given below.

51% has been the rise in the price of 1 kg loaf of bread over the past 10 years in Mumbai to Rs 46, the cheapest city to buy it currently. In Tokyo and Paris, you'll have to pay Rs 480-490.

Rs 113 is the price you pay for a pack of Marlboro cigarettes in Delhi. This is cheaper than in most cities. Be prepared to fork out Rs 930 in Melbourne and Rs 665 in New York.

Rs 3,438 is the cost of a pair of sports shoes in India. Only China is cheaper, with shoes costing Rs 2,700. The US is more expensive at Rs 3,780, but the most expensive is Russia, where you will have to shell out Rs 8,802.

A pizza at Pizza Hut costs Rs 583 in India. While the Kiwis can get the same for Rs 444, the Canadians have to spend Rs 1260.

A movie ticket is Rs 212(on average) in India while Malaysians pay almost the same, Rs 218, but Mexicans have to shell out more than 10 times the amount at Rs 3159.

Similarly for a Mc Donald Burger Venezuelans pay Rs 490 while South Africans and Indians pay Rs 110 and Rs 90 respectively.

A litre of petrol which costs Rs 75 in India costs almost half, Rs 46, in Malaysia while it's close to double, Rs 123, in Honk Kong.

For the distance you travel on public transport in India for Rs 10, you have to pay Rs 12 in Malaysia and Rs 196 in Australia.

Same is the case for Coca cola. A 2 litre bottle costs Rs 58 in India, Rs 65 in China and Rs 195 in Australia. While a Coffee at the newly launched Starbucks in India costs only 135 in India, Mexicans pay Rs 174 for it, in Oslo it sells at Rs 531.

On to clothing where a pair of Levi's 501 is almost same price in India and US (Rs 2010 and Rs 2538 respectively) it costs three folds (Rs 7292) in Russia.

In Healthcare, common cold medicine for a week costs a mere Rs 107 in India while the same costs Rs 142 in Indonesia and Rs 768 in US.

As for Health insurance premiums, we pay Rs Rs 4760 annually for it. Slightly higher than Philipinos (Rs 3173) but much lest that Americans (Rs 303210)

(Countries are listed from cheapest to most expensive. Prices are rounded off. The survey is in dollars but has been converted to rupees ($1=Rs 54). Data is taken from prices posted on the Net or from sources that have collated it. Products that are standard across countries or have close substitutes have been taken.)
Source:ET Bureau Apr 8, 2013

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