How can India surpass China economically?
India has a large and growing population, a well-educated workforce, and a rapidly expanding middle class. In order to surpass China economically, India will need to continue to focus on building its infrastructure, promoting foreign investment, and encouraging innovation and entrepreneurship. Additionally, India will need to address issues such as corruption and bureaucratic red tape, which can make it difficult for businesses to operate in the country. It will also need to invest in education and training programs to ensure that its workforce has the skills needed to compete in a global economy. Additionally, India may also want to invest in renewable energy and other sustainable industries to reduce dependence on fossil fuels. Ultimately, achieving economic growth will require a combination of government policies, private sector investment, and societal changes.
Is it true that India can never beat China in terms of economy?
Let's first talk about Japan.
It's 1980s and Japan is growing like a mad boy. At 10–15% per annum. Japan is leading manufacturer of cars , electronics, machine hardwares and many other stuff.
One of the highest per capita GDP and income. Overqualified, highly skilled people everywhere you go. You got to be a millionaire to buy an okayish flat in Tokyo. Money is literally flowing in the streets(Okay I made this one up…)
$ 4.9 trillion economy which was only behind of USA’s $7 trillion economy. Almost every “Expert” predicted that Japan will overtake USA’s economy by 2010 or so…
But we all know that never really happened. So what went wrong?
As it turned out, almost Everything….. The young Japanese people preferred staying single than marrying and having children.
About 30% Japanese people never marry. So the population started aging rapidly. The population even started declining. The problem with this is, in order to have a flourishing economy you need constant supply of young, innovative work force. And Japan ran out of just that..
So in 1990s, Japan entered a phase of GREAT STAGNATION. That means it showed almost zero growth in last 3 decades!. It's economy is still $4.9 trillion.
China which had 50 times smaller economy than Japan back in 1980s, ironically has 3 times larger economy compared to Japan today. All that in 4 decades.
The whole point is, as of now, China is indeed doing great in terms of economy as compared to India...
By far, China’s economy stands anywhere around 15 trillion dollars as compared to 2.7 trillion dollar Indian Economy.
China has foreign reserves of 5 times as India.
China has great infrastructure and it has literally become powerhouse of manufacturing and exports.
It's way above India in anything related economy as of now.
But the question is for how long?
With controversial one child policy, even China’s population is aging rapidly, talent pool is shrinking too, so what happened to Japan might very well happen to China.
Another thing is, much of China’s progress is based upon it's policy of disrespecting Intellectual property rights and avoiding free trade and thereby curtailing competition. Most of countries including USA have sensed that and as a result now they are demanding China to shed off its trade protectionism.
I laugh gleefully when my fellow Indians say “India can never beat China even in dreams”. Economics is a Bitch…there was a time when Venezuela was developed and Norway was poor country, at world stage it doesn't take a lot of time to go from rag to riches and other way around.
At present India’s potential growth is hugely suppressed by corruption, excessive government control, socialist leaning policies, hostile neighbours and awful education system.. But things are changing rapidly.
It's not impossible that India becomes 3rd or 2nd largest economy in the world in the next two decades.
Only time will tell whether India leaves China behind or not, Only thing that I can say that it's not impossible.
Do something about the rupee's slide which has been ongoing for 7 decades, a 2,100 percent devaluation.
In the 21st century, the yuan has more than doubled against the rupee.
Arrest the slide and reverse it, instead of hanging on to explanations which Gandhi himself would have made. India is three generations past the great man, and it is only right that a forward looking society expect progress.
How can India beat China's economy?
Quite difficult for India, at least in the foreseeable future.
One major reason I would like to point out is that India is a import dependent country whereas China is export oriented.
China has skilled work force India don’t.
Single party rule makes China adopt policies clearly and precisely, India has multiparty rule faces the brunt in transition
China has infrastructure, India lacks.
India talks, China does.
These are few things which will keep India behind China in the coming days also. India really needs to work hard.
How can India defeat China in the economic field?
Every country need sacrifice to build it otherwise it's a piece of land..
Remember diamonds are created under pressure so hold on, it be your time to shine soon..
To become world power all Indians should sacrifice own freedom. Each one should work as a slave of India. To make India a truly free contry in which all its needs are produced. There should be no dependency on other countries. Hard work is required to make India’s own design and development using all available natural resources. And so on…
Empires like Mauryans and Guptas. Let me tell you something, those empires didn't come out of nothing, our ancestors had sacrificed their blood and sweat to give us something to feel proud about. But you Mr. Reader had no role in building those glorious days. What stands before you is your present. Past has faded away, future is yet to come, we only have present in our hands. After maybe a thousand years, when our descendants, would look back at us through the mirror of history pages, what would they think? Wouldn't they blame it on us that we kept India weak like we do on some of our kings? Wouldn't they detest us?
A century is nothing in grand scheme of history. Wouldn't our time period be just ignored like we do to medieval kingdoms? When our descendants would be learning this shameful chapter of Indian history, their Chinese and European counterparts would be learning about golden age of modern China and Europe. Wouldn't our descendants be ashamed of us while discussing about 20th–21st century with their Chinese and European friends and curse at us for being weak. Do you really want to see such a dystopian future?
一個世紀在漫長的歷史長河中微不足道。難道我們現在所處的年代不會像中世紀王國一樣被后人忽視嗎？在我們的子孫后代學習印度歷史上這一可恥篇章時，他們同期的中國人和歐洲人學習的是現代中國和歐洲的黃金時代。當我們的子孫后代和中國、歐洲的朋友討論20 - 21世紀時，他們會不會為我們感到羞愧，并咒罵我們的軟弱。你真的愿意看到這樣一個反烏托邦的未來嗎？
We are indeed not at same terms as Europeans or Chinese, but if we never try to improve ourselves and resign to our fate, this curse of being slaves will haunt our descendants for thousands of years…
India develops a miracle product that noone else can manufacture like a cure for HIV or a cure for Cancer or Diabetes, Renewable power generation which has global deman, or India discovers a huge source of Oil or nuclear Thorium - then perhaps in 50 years - India would overtake China
Other than these two cases - India has lagged too far. They cannot surpass China in any other case of scenario, no matter what they do.
Can India Surpass China's economy by 2050?
No. Economic growth is usually measured in terms of Gross Domestic Product. (GDP)
There are varying forecast about India and China’s growth rate. So lets assume the best case scenario for India at 7% p.a. and an moderate growth scenario for China at 4%
Assuming India grows at 7% p.a. till 2050, its GDP would at best touch $23 Trillion. China, if it grows at 4% p.a., would be able to touch a GDP $43 Trillion by 2050.
So, no India will not surpass Chinese economy by 2050 unless something extraordinary takes place more than ordinary number of times in the next few decades.
China was able to take advantage of globalization when manufacturing shifted from west to the east but this advantage doesn’t remain with the rise of protectionism. India would have to work at finding alternate growth models.