BANGALORE: India and China come together to mind when the topic is in the case of population. But now or in some years there may be something more to compare in between, which till date has been ones own name to own it. That will be in terms of economic growth, since the late 1940’s when both the countries gained independence they were compared aside each other, with a vast population their strength to control the world economic market.
As of 2013 the per capita GDP of china was 4.5 times larger than India, but according to the World Bank’s view India will stride past and will make it happen by growing faster than China which was the other way till now. As they say time changes everything so does happen, after India went democratic and China turned to communism.
To get India from developing to developed position, the new government is implementing ways to reach people , to change their living status for better and finally building infrastructure and crunching on the red tape which was the reason to keep back the economic position for so many years. The World Bank hopes to see India in better position by 2017 if it continues on this path.
As per the World Bank aspiration India will rise its economy from 5.5 percent to 7 percent by 2017 and china will drop back from 7.4 percent to 6.9 percent.
What to expect in the coming years is nothing certain as of both countries are hassling off all the bags they carried as to likes of market isolation, under-educated populations, limited access to technology, poor infrastructure, and regulations that stifled business development.
But for the future all bets are on India even though they are at the same stage with same amount of opportunities, but because of Communist government in China investors are not free to invest and harbor help in country’s growth as far as growth in economy is concerned.
After some years both countries striving aside each other the demographic features will kick in for example India’s population is growing rapidly while China’s is decreasing deliberately. Innovation being the next face to development all hands point towards India having a score over China in the area.
Also India being democratic it helps a lot with the companies individuals growing in wealth and status so does the country as a whole, the main hurdle being bureaucracy stained out there will be liitle stopping it. Here where China’s authoritarian government comes t play by taking decisions that are rash but will finally wake up on the bright side.
So waiting is what we can do and strive for respective countries and hope for our owns to gain the top place and run through it for a while.
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