Professional Documents
Culture Documents
Earlier 50-150mln countries like US, Historical Background Japan got rich very rapidly With China and India , billions will get rich very gradually
The ascent of more than a third of humanity is a fascinating enterprise. while Chinas rise is scripted by an amazing state from above, India is climbing chaotically from below -Gurcharan D
Indias History
Persisted with democracy albeit imperfect. Initial phase after independence: insular economy
High tariff rates Pegged exchange rates Crippling entry barriers.
32%
6% 10%
Promising Economy
Foreign reserves not uncomfortably high nor too low, $0.25 bln 40% of the economy is exposed to global trade Unique Demographic dividend: 0.5 bln of Indians below 25 years
India China
15 10
5 0 Agriculture Industry Services
Really? Chinas capital stock per capita is 5% of the corresponding stocks of US, Japan etc.
Entrepreneurship?? Average size of a private firm has been under30 employees for 2 decades
At a glance
Figures comparison (China-India) Investment: 46.2% - 30% Public debt : 18.9% - 5% Credit : 8.8 1.2 (billion USD) Export : 1.5 0.225 (trillion USD) Import : 1.3 0.36 (trillion USD) Foreign reserves and gold : 2.87 0.287 (trillion USD)