India and China: An Economic Comparison

India and China: An Economic ComparisonIndia.
India and China are the world’s next majorWelfare Indicators of India and China
powers. And in a global economy, affected by theAs compared to India, China also scores higher on
financial crisis, where most advanced countries arewelfare indicators such as living standards, poverty
slumped into recession, India and China are growing.ration, female adult literacy and life expectancy by a
In a PPT India and China it has statistically comparedwide margin.
the economies and industries between these twoSince 1990, China has tripled per capita income and
countries.has eased 300 million out of poverty. While India still
Both the countries have an important role to play inpresents a picture of extreme poverty, Indians are
the world economy, with China embracing privateplaying invaluable roles in the research and
entrepreneurship and India facilitating globalizationdevelopment centers of global tech giants, sprouting
within its economy.all over India. Indian companies are also excelling in
Growth of the Indian and Chinese Economiesproducing high-quality goods and services at very low
Both India and China have registered strongprices, competing for a global marketshare.
economic growth since 1980 and opening up toGrowth Focus for India and China
international trade and capital. The Indian and ChineseTechnical and Managerial skills in both China and India
economies have benefited from FDIs that haveare becoming more important than cheap assembly
provided new goods and services and therefore alabor. China will continue to dominate mass
spurt in industrial growth. The Chinese and the Indianmanufacturing and is still investing in building
economies rank number 1 and 2 respectively as themultibillion-dollar electronics and heavy industrial plants.
fastest growing economies in the world.While India is a leading force in software, design,
But the growth of the Chinese economy has beenservices and the precision industry.
more spectacular than India and China today hasA huge and demanding consumer class is also pushing
surpassed India on the more important economic andthrough innovation in India and China. Chinese and
welfare indices. China’s per capita GDP growthIndian consumers want the latest technology and
has averaged 8% since 1980, which is double that offeatures.
India’s per capita GDP growth rate. The ChineseChina and India, are set to transform the global
economy is much larger than the Indian economy andeconomy of the 21st-century, through its young,
labor-intensive manufacture exports contribute almostdynamic and driven workforce, powering worldwide
40% to the Chinese GDP compared to only 16% ingrowth and change in a range of industries.