India is ranked second only to South Africa as the cheapest country to live or retire, according to a recent survey of 112 countries.
The survey by GoBankingRates ranked nations on the bases of four key affordability metrics provided by online pricing database Number. The metrics are 1)Local purchasing power index 2)rent index 3)Groceries index and 4)Consumer price index.
With the second lowest rent index among the 50 cheapest countries (after neighbor Nepal), living in India can be cheaper compared to most of the countries.
India's local purchasing power is 20.9 percent lower, rent is 95.2 percent cheaper, groceries are 74.4 percent cheaper, local goods and services are 74.9 percent cheaper.
India is cheaper than its neighboring countries like Colombia ranked at 13, Pakistan (14), Nepal (28), Bangladesh (40).
South Africa has topped the survey as the cheapest country to live or retire. Being the worlds largest producer of platinum, gold, and chromium goes far to enrich the country and its economy.