" However, as I understand, this is before adjustment for inflation, which also is high in India" . No , India’s Consumer Price Inflation Falls to Record Low of 2.18 Percent ( https://www.bloomberg.com/news/articles/2017-06-12/india-s-m...)
In the meanwhile, the overall inflation as felt by the residents (in the cities where I am exposed to) is much higher than ~2% quoted, nearly around or even higher than the GDP growth rates mentioned.
Again, being a newbie, I would like to hear back if my understanding is incorrect.