India has now perhaps the second fastest economic growths among the big economies in the world. However, it is still behind China in this regard. Bloomberg reported:
“Asia's fourth-largest economy expanded 8.4 percent in the three months to June 30 from a year earlier, after a 9.3 percent gain in the previous quarter, according to the median forecast of 15 economists in a Bloomberg News survey. India's statistics department will unveil the economic report in New Delhi tomorrow.”
On the other hand, Chinese economy ‘increased 11.3 percent in the quarter ended June 30’. Should Indian decision makers become concerned that they are still behind China? I don’t think so. China has a different model for economic development and India should focus on its own economy. The media loves any comparison and that is why, all the time in the media, we can see discussion about China and India. If India focuses on infrastructure development then I think that within one decade India can surpass China in terms of economic growth.
Do you agree with me?
Comment Preview