In terms of Purchasing Power Parity (PPP), the place of the economy of India is ________ in the world.

3^rd

The correct answer is Option (1) - 3^rd

In terms of PPP dollars, India is the third-largest economy in the world in 2021. Purchasing power parity (PPP) is a popular metric used by macroeconomic analysts. It compares different countries' currencies through a "basket of goods" approach.