Definition and Basic Explanation
A “crore” is a term used in the Indian numbering system to denote ten million. It is written numerically as 1,00,00,000. This term is widely used in South Asia, including India, Pakistan, Bangladesh, and Nepal, to express large quantities, particularly in finance, population counts, and economics.
Historical Context
The use of the term “crore” can be traced back to ancient India, where large numbers were often mentioned in scripts and texts in the Sanskrit language. Over time, the term became standardized in the Indian numbering system, which differs from the Western numbering system (also known as the short scale).
Importance and Applicability
Understanding the term “crore” is crucial for anyone engaging in financial, economic, or social activities within South Asia. It is regularly used in:
- Financial reports and statements: Large sums of money, such as national budgets or large-scale transactions, are often expressed in crores.
- Demographic data: Population statistics for states or large districts may be cited in crores.
- Corporate sector: Company revenues, market capitalizations, and large investments are frequently mentioned in crores.
Examples
- India’s GDP was approximately 147.79 lakh crore Indian Rupees in 2020.
- A Bollywood movie might have a box office collection of 200 crores.
- The population of Uttar Pradesh, the most populous state in India, is over 20 crores.
Considerations
When converting between the Indian numbering system and the Western numbering system, it’s crucial to remember that 1 crore equals ten million (10,000,000). Misunderstanding this can lead to significant errors in financial transactions, data interpretation, and economic planning.
Related Terms
- Lakh: Another unit in the Indian numbering system, equal to one hundred thousand (1,00,000).
- Million: A unit used in the Western numbering system, equivalent to one thousand thousand (1,000,000).
- Billion: A unit in the Western numbering system, equivalent to one thousand million (1,000,000,000).
Comparisons
- Indian Numbering System: 1 crore = 1,00,00,000
- Western Numbering System: 10 million = 10,000,000
Interesting Facts
- The term “crore” is derived from the Prakrit word “koti,” which in turn comes from the Sanskrit word “koṭi,” meaning ten million.
- In the Indian Stock Market, valuations of large companies often reach into several lakh crores.
Inspirational Stories
Dhirubhai Ambani, the founder of Reliance Industries, started with modest means but built a conglomerate that today is worth several lakh crores. His story exemplifies how understanding and leveraging financial metrics like crores can lead to tremendous business success.
Famous Quotes
“Don’t just work for the sake of working. Work for being successful, work for being happy.” – Dhirubhai Ambani
Proverbs and Clichés
- “A crore saved is a crore earned.”
- “Think big, think in crores.”
Expressions, Jargon, and Slang
- Double Crore: Two crores, or twenty million.
- Crorepati: A person who possesses assets worth at least one crore rupees. This term is often used in the popular Indian game show “Kaun Banega Crorepati?”
FAQs
How many zeros are in a crore?
How does a crore compare to a million and a billion?
Is 'crore' used outside of India?
References
- India Brand Equity Foundation. (2021). Indian Economy Overview.
- Government of India. Ministry of Statistics and Programme Implementation. (2020). National Economic Survey.
- Ambani, D. (2002). “Creating Reliance.” Financial Times Press.
Summary
The term “crore” is an essential element of the Indian numbering system and is widely used in finance, population studies, and large-scale economic reporting. Understanding its use, context, and conversion into the Western numbering system is vital for accurate data interpretation and financial transactions in South Asia. Whether you’re looking at GDP figures, corporate revenues, or simply demographic statistics, the term “crore” will undoubtedly be central to the discussion.
