Helpful to keep in mind that India recently changed the way it calculates GDP by updating its base year and moving from a cost-of-input calculation to an expenditure calculation. This will give it a nominal boost as many currently non-market activities (cooking, cleaning, child rearing) enter the realm of the market as paid-for services, and are thus counted in the GDP calculation.<p>More on that in this previous article and discussion:<p><a href="https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=10649925" rel="nofollow">https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=10649925</a><p>One thing that high growth inevitably brings is the negative externality of pollution, as we&#x27;ve observed in China. GDP figures still do not account for this hugely important factor that degrades the quality of living of those in the affected area, as well as the spillover to the oceans and the atmosphere from improper disposal of waste (burning, dumping). It will be interesting to see how bad the pollution gets as manufacturing continues to ramp up, according to the higher &quot;economic complexity&quot; (read: diversified basket of exports) per Harvard&#x27;s analysis.