India is one of the countries that in recent years has achieved a lot of very noticeable development at the level of the economy. Since 1991 AD, the Indian economy has been able to open up to world economies and merge through several economic agreements that arose after the economic crisis in the same year.
In 2017, the gross domestic product in India increased to 2.6 trillion US dollars, which means that India has become the sixth largest economy in the world. This made the International Monetary Fund indicate that India's economy will surpass the British economy in 2019.
According to World Bank estimates, the per capita gross domestic product reached 1939.61 dollars in 2017. Today, India is a strong economic country to a large extent, and it is one of the cheapest countries and the lowest in terms of the cost of living per capita.
The cost of living in India
As a result of the developments that the Indian government has been able to achieve in the Indian economy in recent decades, India has become a truly economically advanced country, and the cost of living of the population has decreased throughout the country.
As for the cost of living for foreigners in India, we will try to review it through several aspects, including:
- Tuition costs in India.
- Transportation prices in India.
- Housing costs in India.
- Commodity prices in India
First is the costs of studying in India
The cost of studying for international students in India varies from one Indian university to another, but India remains one of the cheapest countries in terms of study costs in the world, and on average you will need from 3000 to 6000 thousand dollars, and this amount applies to universities and colleges with higher tuition fees There, even the Indian institutes of technology are the most expensive.
Second: Transportation prices in India
Transportation in India is also cheap, and you often will not need to spend more than 40 cents per ride, back or forth, in the same city.
The bicycle is the easiest, cheapest, and most popular means of transportation and the best option for you if you decide to move around in India, especially if you are familiar with the sites to which you will travel on the way back and forth. You can rent a bike and enjoy the picturesque views of this beautiful country.
Third: housing costs
Housing in India is also not very expensive, yes it differs from one city to another, and from one neighborhood to another, as is the case in all countries of the world, but in general, housing in India is considered cheap if compared to other countries of the world.
For example, the rent of housing units in India in a city like Mumbai is estimated at about $ 200 on average, and if you are a student at an Indian university or institute, you will get housing at a much lower price than this, as Indian universities provide student housing at subsidized prices for students.
If you are a student in India, you will need a minimum of $ 1,800 per year to cover all of your living costs.
Commodity prices in India
As for the prices of commodities in India at the cheapest in the world, we find that the prices of food, personal necessities and living tools are not of high value and within the reach of the middle class living in India.
As for foreigners, an amount in the range of 200 to 300 dollars as a minimum can cover the monthly costs of a family in India in the food side.
For more information on the cost of living in India 2019 for foreigners you can look at this link Which provides detailed price quotes for all goods and services that you may need in India.