Can India Catch up with China on economic growth?

At present, the difference in GDP between the two countries is large, but if India grows at 8\% and China grows at 4\% for the next 20 years, India can narrow the gap and catch up with China, the paper said. Indian vaccines have turned out to be much better than Chinese vaccines.

What is significant about the economic growth rates of China and India?

the rise of china and India will be one of the leading forces to change the world order in 2010–2025. By 2025, the total GdP of china and India will reach about US$20 trillion and nearly US$7 trillion, respectively; the total GdP of the two countries will account for one-fourth of global GdP.

What reasons can be you attribute for China’s GdP growth to outpace India’s growth?

How did China outpace India to become the second largest economy in the world? The answer lies in the differences between politics, productivity and population trends. The Chinese Communist Party (CCP) governs the country with few barriers.

How does China economy compare to Indian economy?

“In nominal terms, Chinese GDP is at $14.9 trillion while India is at $2.6 trillion. Expressed in comparable PPP terms, China is at $24.2 trillion while India is at $8.7 trillion.

Why did China’s economy grow faster than India?

India’s population projected to 2019 is about 1.28 billion while China is 1.36 billion. China has a higher growth rate of GDP than India ever since 1980. China’s higher growth rate was made possible by a much higher rate of growth of gross domestic investment (as a ratio of GDI)—which was about 70\% more than India’s.

What was important in the growth of the Indian economy?

Answer: Airways and railways have been the most important part of the growth of Indian economy also waterways but as railways were used from almost long time ago then the answer is railways…

What is an important similarity between the economies of India and China?

After a general comparison, people will find a lot of similarities and differences between the two countries. Main similarities include that they both belong to third world countries, have high rates of economic growth and own huge labor markets.

How does India’s economic growth rate compare with China’s?

India’s GDP growth rate in the last 17 years has averaged 6.61\% CAGR while China’s GDP growth rate has averaged 9.28\% CAGR. China’s capital investment as a percentage of GDP which is proxy for Investment as a percentage of GDP has averaged 43\% while India’s investment as a percentage of GDP has averaged 34.2\% in the last 17 years.

What does India need to do to sustain economic development?

For sustained economic development, India needs more manufacturing, a more liberalized trade environment, and more flexible labor markets. The conventional wisdom is: “India does software; China does hardware. Those are their paths to expansion.”

Why is the development of China and India so important?

Therefore, even if a large slice of their population remains in poverty, the economies of China and India are completely integrated into the world markets and financial exchanges, making the development of these two key countries important to maintaining a peaceful international scene during the 21st Century.

How will the Indian economy grow in the future?

Indian economy growth rate will rise when capital investment rises for which we will need bigger government and private spending. It is projected that by 2024, India will have more people than China with approximately 1.44 billion people.