This document compares the economic relations and development of India and China. It notes that China's economic growth has significantly outpaced India's since the 1990s, with China's GDP growth averaging around 9% compared to 5-6% in India. This higher growth is largely due to China's much higher investment rates, especially in infrastructure. While both countries face issues of sustainability and inequality in their current growth models, they also share similar pressing problems of agrarian crisis and the need for more employment generation. Overall, the document analyzes the competitive yet complementary aspects of Sino-Indian economic relations.
Economic Institution Issues in PakistanAYESHA JAVED
The document discusses key concepts related to economics including the definition of an economy as the production, distribution, and consumption of goods and services. It also defines different economic systems like capitalism, which is based on private ownership and free market competition, and socialism, where resources and means of production are owned by society and controlled by the government. The document then discusses Pakistan's economic institutions like agriculture, industry, and issues it faces including fiscal and monetary policy challenges, power crisis, law and order issues, low exports and high imports, and lack of tourism. It emphasizes that GDP is an important indicator of an economy and that Pakistan has potential for growth if the government and people work to improve areas like governance, education, technology, and natural resources
Economic environment & structural changes in economyNirmal PR
The document discusses the economic environment and structural changes in the Indian economy. It defines economic environment as the economic factors that influence business operations, including things like government policies, economic conditions, and resources. It then describes five key elements of India's economic environment: 1) economic conditions like business cycles and living standards, 2) the mixed economic system, 3) fiscal and monetary policies, 4) international trade relationships, and 5) economic legislation. It also outlines four structural changes in India's economy, including a shift from agriculture to industry and services, growth of basic industries, expansion of infrastructure, and progress in the banking and financial sector through nationalization.
Pakistan's economy continues to face challenges such as fiscal and monetary policy issues, a severe power crisis, law and order problems, low exports and high imports, and a lack of tourism. The document outlines these economic issues in further detail, noting that fiscal policy aims to promote growth but faces obstacles of low government revenue and productivity. Monetary policy must also play an active role to improve management. The power crisis significantly hinders growth and increases unemployment. Law and order issues are linked to rising crime rates, inflation, poverty, and declining investment. Low exports and high imports contribute to a budget deficit. Improving tourism could boost the economy but security issues have reduced tourism.
This document discusses three main economic systems: capitalist, communist, and mixed. It provides details on each: capitalist systems emphasize private ownership and free enterprise; communist systems involve government control over resources and income; and mixed systems combine public and private aspects to provide benefits to citizens equitably. Examples are given of countries that follow each system. The limitations of communist systems are outlined as reducing freedom of choice, limiting foreign investment, and failing to achieve significant growth. Mixed systems aim to develop the public sector, enact land reforms, regulate wealth and investment, and promote self-reliance.
The document discusses key economic factors to consider when evaluating the economic environment of a country for international expansion. It covers different economic systems (market, command, mixed), macroeconomic indicators like GDP, inflation, balance of payments, exchange rates. International monetary systems throughout history are examined, from the gold standard to Bretton Woods to the current nonsystem of managed floating rates. Understanding a country's economic framework, growth trends, and government policies is important for assessing market potential and risks.
Economic environment PPT ON INDIAN BUSINESS ENVIROANMENT MBABabasab Patil
This document discusses economic development and the economic environment in India. It begins by defining key economic terms like economic growth, development, and the three sectors of an economy. It then outlines some of the major issues facing India's development like low per capita income, high poverty rates, unemployment, and economic inequalities. Some of the determinants of development discussed include capital formation, population growth, and building human capital. The document also provides an overview of India's economy as a developing one, looking at the contributions and growth of the primary, secondary, and tertiary sectors over time as well as some objectives of India's 11th five-year plan.
Economic role of government in Indian BusinessGeorge V James
The document discusses the economic role of the Indian government in business. It outlines several key roles: regulator, promoter, entrepreneur, and planner. It also discusses factors that influence the government's role like the economy's development stage. Additionally, it examines issues the government aims to address like poverty, unemployment, and infrastructure development through various policies and programs. The government strives to balance economic growth with social welfare objectives.
The document discusses the economic environment and dimensions that influence business in Nepal. It outlines key components of Nepal's economic structure, including GDP, GDP per capita, economic policies, inflation rates, and levels of employment. It also examines Nepal's socioeconomic indicators such as population size, density, age distribution, labor force composition, and employment trends. The 14th economic development plan aims to transform agriculture and tourism and expand infrastructure to reach middle income status and a more prosperous, socially just nation.
Economic Institution Issues in PakistanAYESHA JAVED
The document discusses key concepts related to economics including the definition of an economy as the production, distribution, and consumption of goods and services. It also defines different economic systems like capitalism, which is based on private ownership and free market competition, and socialism, where resources and means of production are owned by society and controlled by the government. The document then discusses Pakistan's economic institutions like agriculture, industry, and issues it faces including fiscal and monetary policy challenges, power crisis, law and order issues, low exports and high imports, and lack of tourism. It emphasizes that GDP is an important indicator of an economy and that Pakistan has potential for growth if the government and people work to improve areas like governance, education, technology, and natural resources
Economic environment & structural changes in economyNirmal PR
The document discusses the economic environment and structural changes in the Indian economy. It defines economic environment as the economic factors that influence business operations, including things like government policies, economic conditions, and resources. It then describes five key elements of India's economic environment: 1) economic conditions like business cycles and living standards, 2) the mixed economic system, 3) fiscal and monetary policies, 4) international trade relationships, and 5) economic legislation. It also outlines four structural changes in India's economy, including a shift from agriculture to industry and services, growth of basic industries, expansion of infrastructure, and progress in the banking and financial sector through nationalization.
Pakistan's economy continues to face challenges such as fiscal and monetary policy issues, a severe power crisis, law and order problems, low exports and high imports, and a lack of tourism. The document outlines these economic issues in further detail, noting that fiscal policy aims to promote growth but faces obstacles of low government revenue and productivity. Monetary policy must also play an active role to improve management. The power crisis significantly hinders growth and increases unemployment. Law and order issues are linked to rising crime rates, inflation, poverty, and declining investment. Low exports and high imports contribute to a budget deficit. Improving tourism could boost the economy but security issues have reduced tourism.
This document discusses three main economic systems: capitalist, communist, and mixed. It provides details on each: capitalist systems emphasize private ownership and free enterprise; communist systems involve government control over resources and income; and mixed systems combine public and private aspects to provide benefits to citizens equitably. Examples are given of countries that follow each system. The limitations of communist systems are outlined as reducing freedom of choice, limiting foreign investment, and failing to achieve significant growth. Mixed systems aim to develop the public sector, enact land reforms, regulate wealth and investment, and promote self-reliance.
The document discusses key economic factors to consider when evaluating the economic environment of a country for international expansion. It covers different economic systems (market, command, mixed), macroeconomic indicators like GDP, inflation, balance of payments, exchange rates. International monetary systems throughout history are examined, from the gold standard to Bretton Woods to the current nonsystem of managed floating rates. Understanding a country's economic framework, growth trends, and government policies is important for assessing market potential and risks.
Economic environment PPT ON INDIAN BUSINESS ENVIROANMENT MBABabasab Patil
This document discusses economic development and the economic environment in India. It begins by defining key economic terms like economic growth, development, and the three sectors of an economy. It then outlines some of the major issues facing India's development like low per capita income, high poverty rates, unemployment, and economic inequalities. Some of the determinants of development discussed include capital formation, population growth, and building human capital. The document also provides an overview of India's economy as a developing one, looking at the contributions and growth of the primary, secondary, and tertiary sectors over time as well as some objectives of India's 11th five-year plan.
Economic role of government in Indian BusinessGeorge V James
The document discusses the economic role of the Indian government in business. It outlines several key roles: regulator, promoter, entrepreneur, and planner. It also discusses factors that influence the government's role like the economy's development stage. Additionally, it examines issues the government aims to address like poverty, unemployment, and infrastructure development through various policies and programs. The government strives to balance economic growth with social welfare objectives.
The document discusses the economic environment and dimensions that influence business in Nepal. It outlines key components of Nepal's economic structure, including GDP, GDP per capita, economic policies, inflation rates, and levels of employment. It also examines Nepal's socioeconomic indicators such as population size, density, age distribution, labor force composition, and employment trends. The 14th economic development plan aims to transform agriculture and tourism and expand infrastructure to reach middle income status and a more prosperous, socially just nation.
The document discusses India's economic environment, including factors such as inflation, employment, poverty, debt, income distribution, and interest rates. It notes that India's consumer price inflation was 3.28% in September 2017. Unemployment is projected to increase to 17.8 million in 2017 and 18 million in 2018. Over 26% of the global extreme poor live in India. India ranks 100th out of 119 countries on the Global Hunger Index. Income inequality has doubled over the last two decades in India. The Reserve Bank of India recently cut its repo rate to 6.75% to boost economic growth.
Indian Economic Environment
The document discusses the Indian economic environment, including the objectives of economic policies such as guiding growth while controlling inflation and achieving full employment. It also discusses how the Indian economic era since independence can be divided into the pre-1991 pre-reform period and the post-1991 reform period which led to the liberalization of the Indian economy. Additionally, it briefly mentions the topic of inflation and the role of money in inflation.
This document discusses different types of economic systems. It defines a traditional economy as one based on customs and traditions where resources are owned by a sovereign. A market economy is based on individual choices where private firms produce for profit. A centrally planned economy gives the government control over production and distribution. A mixed economy incorporates aspects of market and planned systems, with both government and private sectors.
This document discusses the changing role of governments in economies over time from the 16th century to the present. It notes that governments initially played a large role in economies, which declined with the rise of laissez-faire ideology in the 18th-19th centuries. However, the failures of laissez-faire led to an increased government role in the 20th century to address issues like inequality, externalities, and economic stability. The document concludes that modern mixed economies involve both regulatory and promotional roles for governments, including market interventions to correct failures, providing infrastructure and incentives to stimulate the private sector.
Government intervention in the economy is necessary to fulfill roles that the private sector cannot, such as ensuring steady growth, full employment, and price stability. The government guides economic activity through fiscal and monetary policy, and intervenes to address market failures like externalities. It regulates business, provides public goods, redistributes income, and preserves societal values that markets do not consider.
The Role of Government in Economic DevelopmentRima Doot
The document discusses the role of government in economic development. It states that the ultimate goal of any government is to promote human welfare in the country by acting as an agent of economic development. It does this by providing legal and social frameworks, maintaining competition, providing public goods and services, national defense, income support and social welfare programs, correcting for externalities, and stabilizing the economy. Additionally, the government provides policies to support well-functioning markets and intervene when markets fail. Specifically, the government guides the overall pace of economic activity and attempts to maintain steady growth, high employment, and price stability through fiscal and monetary policies.
The document discusses the economic environment of business. It defines the economic environment as including domestic and international economic factors. Some key components of the economic environment mentioned are economic conditions, policies, systems, and the global business climate. Economic conditions reflect the current state of the economy in terms of factors like prices, demand, supply, investment, and employment. Economic policies of the government, such as fiscal, monetary, trade and foreign investment policies, greatly impact businesses. The three main economic systems discussed are free market capitalism, planned communism, and mixed economies. Examples of each type of system are provided.
The document discusses several approaches to economic development, including "trickle down" or "top down" approaches that focus on enabling large companies and wealthy individuals to thrive with the goal that their success will benefit others. Other approaches discussed include growth pole theory, grassroots or "bottom up" development that focuses on directly helping lift people out of poverty, fair trade, regional development, export-led growth, import substitution, foreign direct investment, and contrasting Keynesian and neo-liberal economic philosophies. The United Nations Millennium Development Goals are also briefly outlined.
This document provides information on different economic systems including capitalism, socialism, and mixed economies. It discusses key features of capitalism such as private property, competition, and profit motive. It also outlines advantages of capitalism like variety of goods and services, as well as disadvantages like unequal wealth distribution. Socialism is defined as collective or public ownership, with advantages including planned economy and basic necessities for all, and disadvantages being lack of individualism and economic freedom. The document also summarizes North Korea's socialist command economy and its strict government control over all economic activity.
The document discusses several key topics related to economics and government. It outlines three main functions of government: the allocation function regarding public goods, the distribution function regarding income distribution, and the stabilization function regarding maintaining economic stability. It also discusses economic policy goals such as full employment, price stability, economic growth, and income distribution. Additionally, it covers topics like fiscal policy, types of unemployment, types of economic instability, and the distribution of income.
This document discusses different types of economic systems including mixed economies, market economies, and planned economies. It provides details on key aspects of a mixed economy such as allowing some prices to fluctuate based on demand while others are fixed, and the government taking a role in certain industries while allowing the private sector to operate in others. A mixed economy aims to combine advantages of capitalism and socialism while overcoming disadvantages, through policies like economic planning and using tax revenue to fund social programs. Challenges of a mixed economy include potential conflicts between private and public sectors and regulations limiting production. The document also distinguishes between positive and normative economics.
Factors affecting economic development and growthKhurram Munir
Economic growth can be impacted by many factors including interest rates, tax levels, currency strength, government intervention, environmental perceptions, overall economic health, and the natural business cycle. Specifically, high interest rates deter investment and expansion while low rates stimulate growth. New regulations can significantly impact industries as small producers may be unable to comply with high costs. The public's view of an industry's environmental impact can also influence economic development if products are seen as harmful. Broader economic trends, like recessions, affect growth as consumers spend less on discretionary items and companies scale back production.
Capital formation is the process of increasing a country's capital assets through investing in productive infrastructure and equipment. This promotes economic development by raising productivity, technological progress, and standards of living. In developing countries, capital formation relies on both domestic and external resources. Domestically, capital comes from voluntary savings, involuntary savings (e.g. taxes), government borrowing, and utilizing idle resources. Externally, foreign economic assistance such as loans and grants are important sources of capital that help bridge savings gaps, increase employment and productivity, and provide access to new technologies. While necessary, capital alone is not sufficient for development - other factors like education, government effectiveness, and social attitudes also significantly influence economic progress.
Economic system by Neeraj Bhandari ( Surkhet.Nepal )Neeraj Bhandari
The document discusses various economic systems including command, market, and mixed economies. It also discusses India's economic planning process through its Five Year Plans, including key targets and growth rates achieved. Some important economic parameters mentioned are GDP, GNP, inflation, current account deficit, and foreign exchange rates.
This document defines key economic concepts and compares different types of economic systems. It discusses the four major economic systems - traditional, free market/enterprise, command, and mixed. In a traditional economy, customs govern economic decisions and activities are centered around the family. A free market economy relies on supply and demand with businesses and consumers deciding production and purchases. Under a command system, the government determines production and resource allocation. Most countries utilize a mixed economy, which combines elements of market and command economies.
This document compares different types of economic systems: traditional, free enterprise (market), command, and mixed. It defines each system and provides examples. A traditional economy relies on customs and focuses on family/tribal production. A market economy uses supply and demand to determine production and pricing. A command economy has the government control production decisions. Most nations today use a mixed system that balances government provision of needs with a marketplace for wants.
This document discusses concepts related to global business management and the global economic environment. It covers several topics:
1. It introduces the importance of understanding international business and being prepared to work in foreign environments for management graduates.
2. It outlines course topics for a global business management course, including globalization, trade, technology, economics, politics, and business strategy.
3. It discusses classifications of countries' economic environments, including by income level, economic systems (market, command, mixed), and countries in economic transition (e.g. India, China, Russia).
4. It provides examples and analyses of different economic systems and the characteristics of market, command, and mixed economies.
Sinoindianeconomicrelationscompetitionandpartnership1 1224309877426672-9OSMANIA UNIVERSITY
China and India have experienced rapid economic growth in recent decades but have taken different paths. China has grown faster through higher investment rates, exports, and infrastructure spending while India's growth has been more equitable but slower. Both countries face issues of sustainability, inequality, and need to address agriculture and employment. While China has stronger manufacturing and infrastructure and India has advantages in services, both see opportunities in trading with each other and facing competition. Overall the countries share similarities in their large populations and economies but have taken different political and economic approaches.
The document discusses India's economic growth and development since independence. It notes that India has made progress reducing poverty and inequality, but still faces challenges in areas like employment and education. Several states have recently relaxed some labor laws to revive industry amid the pandemic, which could both help and hurt the economy and workers. As a manager, factors to consider regarding relaxed laws include prioritizing employee safety, supporting remote work, and engaging with customers and officials during the crisis.
The document discusses India's economic environment, including factors such as inflation, employment, poverty, debt, income distribution, and interest rates. It notes that India's consumer price inflation was 3.28% in September 2017. Unemployment is projected to increase to 17.8 million in 2017 and 18 million in 2018. Over 26% of the global extreme poor live in India. India ranks 100th out of 119 countries on the Global Hunger Index. Income inequality has doubled over the last two decades in India. The Reserve Bank of India recently cut its repo rate to 6.75% to boost economic growth.
Indian Economic Environment
The document discusses the Indian economic environment, including the objectives of economic policies such as guiding growth while controlling inflation and achieving full employment. It also discusses how the Indian economic era since independence can be divided into the pre-1991 pre-reform period and the post-1991 reform period which led to the liberalization of the Indian economy. Additionally, it briefly mentions the topic of inflation and the role of money in inflation.
This document discusses different types of economic systems. It defines a traditional economy as one based on customs and traditions where resources are owned by a sovereign. A market economy is based on individual choices where private firms produce for profit. A centrally planned economy gives the government control over production and distribution. A mixed economy incorporates aspects of market and planned systems, with both government and private sectors.
This document discusses the changing role of governments in economies over time from the 16th century to the present. It notes that governments initially played a large role in economies, which declined with the rise of laissez-faire ideology in the 18th-19th centuries. However, the failures of laissez-faire led to an increased government role in the 20th century to address issues like inequality, externalities, and economic stability. The document concludes that modern mixed economies involve both regulatory and promotional roles for governments, including market interventions to correct failures, providing infrastructure and incentives to stimulate the private sector.
Government intervention in the economy is necessary to fulfill roles that the private sector cannot, such as ensuring steady growth, full employment, and price stability. The government guides economic activity through fiscal and monetary policy, and intervenes to address market failures like externalities. It regulates business, provides public goods, redistributes income, and preserves societal values that markets do not consider.
The Role of Government in Economic DevelopmentRima Doot
The document discusses the role of government in economic development. It states that the ultimate goal of any government is to promote human welfare in the country by acting as an agent of economic development. It does this by providing legal and social frameworks, maintaining competition, providing public goods and services, national defense, income support and social welfare programs, correcting for externalities, and stabilizing the economy. Additionally, the government provides policies to support well-functioning markets and intervene when markets fail. Specifically, the government guides the overall pace of economic activity and attempts to maintain steady growth, high employment, and price stability through fiscal and monetary policies.
The document discusses the economic environment of business. It defines the economic environment as including domestic and international economic factors. Some key components of the economic environment mentioned are economic conditions, policies, systems, and the global business climate. Economic conditions reflect the current state of the economy in terms of factors like prices, demand, supply, investment, and employment. Economic policies of the government, such as fiscal, monetary, trade and foreign investment policies, greatly impact businesses. The three main economic systems discussed are free market capitalism, planned communism, and mixed economies. Examples of each type of system are provided.
The document discusses several approaches to economic development, including "trickle down" or "top down" approaches that focus on enabling large companies and wealthy individuals to thrive with the goal that their success will benefit others. Other approaches discussed include growth pole theory, grassroots or "bottom up" development that focuses on directly helping lift people out of poverty, fair trade, regional development, export-led growth, import substitution, foreign direct investment, and contrasting Keynesian and neo-liberal economic philosophies. The United Nations Millennium Development Goals are also briefly outlined.
This document provides information on different economic systems including capitalism, socialism, and mixed economies. It discusses key features of capitalism such as private property, competition, and profit motive. It also outlines advantages of capitalism like variety of goods and services, as well as disadvantages like unequal wealth distribution. Socialism is defined as collective or public ownership, with advantages including planned economy and basic necessities for all, and disadvantages being lack of individualism and economic freedom. The document also summarizes North Korea's socialist command economy and its strict government control over all economic activity.
The document discusses several key topics related to economics and government. It outlines three main functions of government: the allocation function regarding public goods, the distribution function regarding income distribution, and the stabilization function regarding maintaining economic stability. It also discusses economic policy goals such as full employment, price stability, economic growth, and income distribution. Additionally, it covers topics like fiscal policy, types of unemployment, types of economic instability, and the distribution of income.
This document discusses different types of economic systems including mixed economies, market economies, and planned economies. It provides details on key aspects of a mixed economy such as allowing some prices to fluctuate based on demand while others are fixed, and the government taking a role in certain industries while allowing the private sector to operate in others. A mixed economy aims to combine advantages of capitalism and socialism while overcoming disadvantages, through policies like economic planning and using tax revenue to fund social programs. Challenges of a mixed economy include potential conflicts between private and public sectors and regulations limiting production. The document also distinguishes between positive and normative economics.
Factors affecting economic development and growthKhurram Munir
Economic growth can be impacted by many factors including interest rates, tax levels, currency strength, government intervention, environmental perceptions, overall economic health, and the natural business cycle. Specifically, high interest rates deter investment and expansion while low rates stimulate growth. New regulations can significantly impact industries as small producers may be unable to comply with high costs. The public's view of an industry's environmental impact can also influence economic development if products are seen as harmful. Broader economic trends, like recessions, affect growth as consumers spend less on discretionary items and companies scale back production.
Capital formation is the process of increasing a country's capital assets through investing in productive infrastructure and equipment. This promotes economic development by raising productivity, technological progress, and standards of living. In developing countries, capital formation relies on both domestic and external resources. Domestically, capital comes from voluntary savings, involuntary savings (e.g. taxes), government borrowing, and utilizing idle resources. Externally, foreign economic assistance such as loans and grants are important sources of capital that help bridge savings gaps, increase employment and productivity, and provide access to new technologies. While necessary, capital alone is not sufficient for development - other factors like education, government effectiveness, and social attitudes also significantly influence economic progress.
Economic system by Neeraj Bhandari ( Surkhet.Nepal )Neeraj Bhandari
The document discusses various economic systems including command, market, and mixed economies. It also discusses India's economic planning process through its Five Year Plans, including key targets and growth rates achieved. Some important economic parameters mentioned are GDP, GNP, inflation, current account deficit, and foreign exchange rates.
This document defines key economic concepts and compares different types of economic systems. It discusses the four major economic systems - traditional, free market/enterprise, command, and mixed. In a traditional economy, customs govern economic decisions and activities are centered around the family. A free market economy relies on supply and demand with businesses and consumers deciding production and purchases. Under a command system, the government determines production and resource allocation. Most countries utilize a mixed economy, which combines elements of market and command economies.
This document compares different types of economic systems: traditional, free enterprise (market), command, and mixed. It defines each system and provides examples. A traditional economy relies on customs and focuses on family/tribal production. A market economy uses supply and demand to determine production and pricing. A command economy has the government control production decisions. Most nations today use a mixed system that balances government provision of needs with a marketplace for wants.
This document discusses concepts related to global business management and the global economic environment. It covers several topics:
1. It introduces the importance of understanding international business and being prepared to work in foreign environments for management graduates.
2. It outlines course topics for a global business management course, including globalization, trade, technology, economics, politics, and business strategy.
3. It discusses classifications of countries' economic environments, including by income level, economic systems (market, command, mixed), and countries in economic transition (e.g. India, China, Russia).
4. It provides examples and analyses of different economic systems and the characteristics of market, command, and mixed economies.
Sinoindianeconomicrelationscompetitionandpartnership1 1224309877426672-9OSMANIA UNIVERSITY
China and India have experienced rapid economic growth in recent decades but have taken different paths. China has grown faster through higher investment rates, exports, and infrastructure spending while India's growth has been more equitable but slower. Both countries face issues of sustainability, inequality, and need to address agriculture and employment. While China has stronger manufacturing and infrastructure and India has advantages in services, both see opportunities in trading with each other and facing competition. Overall the countries share similarities in their large populations and economies but have taken different political and economic approaches.
The document discusses India's economic growth and development since independence. It notes that India has made progress reducing poverty and inequality, but still faces challenges in areas like employment and education. Several states have recently relaxed some labor laws to revive industry amid the pandemic, which could both help and hurt the economy and workers. As a manager, factors to consider regarding relaxed laws include prioritizing employee safety, supporting remote work, and engaging with customers and officials during the crisis.
The document compares India and China's economic growth and development strategies. It discusses how both countries adopted Soviet-style centrally planned economies after 1949 in China and 1947 in India. While China's economy was entirely state-owned and controlled, India's was mostly privately owned except in key industries. Both countries have since liberalized their economies and emerged as global economic powers with high growth rates. China liberalized earlier in the 1980s while India's liberalization began in the 1990s. China's infrastructure is more developed compared to India. The document also compares sectors such as IT/BPO, communication capabilities, capital markets, and company management between the two countries.
Emergence of india as an economic super powerKavya B.S
Four important strategies for our Economy to prosper is that of:
1) Inclusive growth
2) Environmental concern
3) Investment in innovation
4)Curbing of Black Money
thus explaining each of them.
Impact of globalisation on indian economyShiney Lakha
Globalization has increased integration of the Indian economy with the global economy since the early 1990s. Major reforms opened many sectors to foreign investment and made the economy more market-oriented. These changes fueled rapid economic growth that accelerated India's rise as a global economic power. However, challenges remain in sustaining high growth, reducing poverty and inequality, and creating enough jobs to absorb new entrants to the workforce.
This document provides an introduction and background to a dissertation analyzing India's Vision 2020 plan set forth by the country's Planning Commission. The dissertation will examine India's current economic status and growth engines to determine if achieving the goals of Vision 2020 by the target year of 2020 is realistic. Key points discussed include:
- India's growing importance in the global economy due to its large, young population and rapid growth.
- The Vision 2020 plan's identification of education, technology, communication, and market opening as important growth engines.
- Challenges India faces in structural transformation, such as improving GDP, investment environment, and infrastructure.
- The dissertation will review industry trends and forecasts to estimate India's future performance
Last three decades has seen some interesting dynamics and realignments in economic influence of nations in the world. In particular, 3 Nations have a significant impact on wealth of nations and will continue to do so for foreseeable future. Here is their story as a visual essay.
China's economy is significantly larger than India's, with GDP of $12.24 trillion compared to India's $2.43 trillion. Both countries have experienced rapid economic growth in recent decades, driven in China by heavy investment in infrastructure and manufacturing, and in India by a young workforce and growing services sector. However, China's one-child policy has led to an aging population, while India is poised to benefit more from its upcoming demographic dividend of a large working-age population supporting fewer dependents.
Andrew Scott on the future of India and China Telstra Global
Last week the Asia Pacific Summit 2011 took place in London, presented by the London Business School and sponsored by leading telecommunications company Telstra International. The Summit brought together a wide scope of experience and perspective – from the academics of the London Business School to the heads of some of the world’s leading businesses.
The two day event incorporated lectures, speeches, case study presentations, panel sessions and interactive workshops all aimed at examining the many potential challenges and pitfalls of doing business in Asia Pacific, as well as key strategies to overcome them.
The Centre for Indian Ocean Studies (CIOS) was established in 1983 under the UGC's Area Studies Programme. It is the only public-funded research centre on the Indian Ocean in India. CIOS conducts multidisciplinary research on the Indian Ocean region's geopolitics, urban planning, environment, trade, and publishes biannual journals. It has a modest collection of books and periodicals on related subjects. CIOS is staffed by a director and faculty from economics, geography, political science, and sociology.
Indian Economy: The Challenge Ahead Since India gainedalianwarrr55
Following India's economic victories, the country is confronted with a wide range of chances and challenges that represent Sarvesh Kaushal's vision fulfilled. The spirit of Kaushal's vision blends with the economic history of the country as the Indian economy continues its voyage of change, offering a powerful story of expansion, resiliency, and adaptability.
INDIAN ECONOMY V/S CHINESE ECONOMY, A Comparative StudyAnkit Dabral
The document compares the economies of India and China. It finds that while China's economy is currently larger than India's based on GDP, India's economy has grown at a faster rate in recent years. Some key differences highlighted include:
- China's economy was not colonized like India's was, allowing it to develop stronger initially.
- China has higher GDP and per capita income but a lower poverty rate than India.
- India's economy relies more on services while China's relies more on industry and manufacturing.
The document provides an overview of key concepts in economics including industrial policy, objectives of industrial policy, key areas of focus for industrial policy, initiatives taken by the Indian government, and challenges facing the Indian economy. It also defines important economic indicators such as GDP, GNP, and explains why India has become an attractive destination for foreign direct investment.
The reforms implemented under Deng Xiaoping in 1978 aimed to liberalize and open China's economy to the global market in order to stimulate growth after years of stagnation. Special Economic Zones were established along coastal provinces to incentivize foreign investment and trade. These reforms led to explosive economic growth averaging 10% for over two decades, lifting hundreds of millions out of poverty. However, globalization has also increased inequality between rural and urban areas and exacerbated environmental degradation problems in China. While economic growth has benefited from opening to global markets, China now faces challenges in transitioning to sustainable growth driven by domestic consumption as it loses manufacturing jobs to cheaper labor abroad.
This document compares the economies of India and China over the past 50 years since they were both among the poorest countries. It outlines key differences in their political systems, growth rates, areas of specialization, and economic indicators. China adopted economic reforms earlier in 1978 and has grown faster at 9.5% annually compared to India's 6% growth. While China dominates manufacturing, India is rising in services. Both countries continue facing challenges to transitioning their economies and maintaining growth.
The document discusses several issues facing India and proposes reforms in various sectors including public services, higher education, consumer price index, fiscal deficit, pensions/insurance, currency/interest rates, banking, agriculture, infrastructure, and the environment. It argues that India needs to develop frameworks for accountability, increase transparency, liberalize restrictions on investments, reform markets, and address financing and regulatory constraints to support growth in these important areas.
The document provides a SWOT analysis of India's New Economic Policy introduced in 1991 in response to a balance of payments crisis. The three main strengths are: 1) High economic growth increasing GDP and reducing poverty; 2) Increased foreign investment and integration in the global economy; 3) Dismantling of licensing and opening private industry. The key weaknesses are reduced government spending and increased inequality. Main opportunities are foreign investment, technology transfer, and improving competitiveness. Primary threats include increased economic fluctuations, challenges for agriculture and rural populations, and uneven distribution of benefits.
To sustain 8% growth in the Indian economy and reach its full potential, additional foreign investment is needed, especially in infrastructure renewal and agriculture. Specifically, India needs around $20 billion per year in foreign direct investment for the next 10 years to support industrial and service sector exports as well as infrastructure projects. It should also welcome foreign institutional investment, while maintaining political and economic stability to retain such investments over the long term.
Similar to Sino Indian Economic Relations Competition And Partnership[1] (20)
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Vision and Goals: The primary aim of the 1st Defence Tech Meetup is to create a Defence Tech cluster in Portugal, bringing together key technology and defence players, accelerating Defence Tech startups, and making Portugal an attractive hub for innovation in this sector.
Historical Context and Industry Evolution: The presentation provides an overview of the evolution of the Portuguese military industry from the 1970s to the present, highlighting significant shifts such as the privatisation of military capabilities and Portugal's integration into international defence and space programs.
Innovation and Defence Linkage: Emphasis on the historical linkage between innovation and defence, citing examples like the military genesis of Silicon Valley and the Cold War's technological dividends that fueled the digital economy, highlighting the potential for similar growth in Portugal.
Proposals for Growth: Recommendations include promoting dual-use technologies and open innovation, streamlining procurement processes, supporting and financing new ICT/BTID companies, and creating a Defence Startup Accelerator to spur innovation and economic growth.
Current and Future Technologies: Discussion on emerging defence technologies such as drone warfare, advancements in AI, and new military applications, along with the importance of integrating these innovations to enhance Portugal's defence capabilities and economic resilience.
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AskXX Pitch Deck Course: A Comprehensive Guide
Introduction
Welcome to the Pitch Deck Course by AskXX, designed to equip you with the essential knowledge and skills required to create a compelling pitch deck that will captivate investors and propel your business to new heights. This course is meticulously structured to cover all aspects of pitch deck creation, from understanding its purpose to designing, presenting, and promoting it effectively.
Course Overview
The course is divided into five main sections:
Introduction to Pitch Decks
Definition and importance of a pitch deck.
Key elements of a successful pitch deck.
Content of a Pitch Deck
Detailed exploration of the key elements, including problem statement, value proposition, market analysis, and financial projections.
Designing a Pitch Deck
Best practices for visual design, including the use of images, charts, and graphs.
Presenting a Pitch Deck
Techniques for engaging the audience, managing time, and handling questions effectively.
Resources
Additional tools and templates for creating and presenting pitch decks.
Introduction to Pitch Decks
What is a Pitch Deck?
A pitch deck is a visual presentation that provides an overview of your business idea or product. It is used to persuade investors, partners, and customers to take action. It is a concise communication tool that helps to clearly and effectively present your business concept.
Why are Pitch Decks Important?
Concise Communication: A pitch deck allows you to communicate your business idea succinctly, making it easier for your audience to understand and remember your message.
Value Proposition: It helps in clearly articulating the unique value of your product or service and how it addresses the problems of your target audience.
Market Opportunity: It showcases the size and growth potential of the market you are targeting and how your business will capture a share of it.
Key Elements of a Successful Pitch Deck
A successful pitch deck should include the following elements:
Problem: Clearly articulate the pain point or challenge that your business solves.
Solution: Showcase your product or service and how it addresses the identified problem.
Market Opportunity: Describe the size, growth potential, and target audience of your market.
Business Model: Explain how your business will generate revenue and achieve profitability.
Team: Introduce key team members and their relevant experience.
Traction: Highlight the progress your business has made, such as customer acquisitions, partnerships, or revenue.
Ask: Clearly state what you are asking for, whether it’s investment, partnership, or advisory support.
Content of a Pitch Deck
Pitch Deck Structure
A pitch deck should have a clear and structured flow to ensure that your audience can follow the presentation.
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Sino Indian Economic Relations Competition And Partnership[1]
1. SINO-INDIAN ECONOMIC RELATIONS-COMPETITION AND PARTNERSHIP
Gautam Murthy*
India is a vibrant democracy, despite vast religious, caste and economic diversities. China’s per
capita income began to exceed India’s in the 1990s, though forty years earlier, India’s was
above that of China. India had avoided the pitfalls of the Great Leap Forward and the Cultural
Revolution, though after the Reforms of Deng Xiao Ping since 1978, China is way ahead of
India in all the economic and social parameters. In 1991, the Indian government initiated
economic reforms. India’s market-oriented liberalization and removal of industrial licensing
and controls resulted in acceleration of GDP to about 6% a year since 1991, among the fastest
for any nation, but considerably lower than the Chinese pace of about 9% for the corresponding
period.
China’s amazing economic success is stunning the world, and China understands how to move
with the times like no other country. Its aim is to be a middle-level developed country in the
mid-twenty-first century. China is the world’s most competitive nation, and its seventh largest
exporter. China desires to modernise rapidly by attractng more foreign investment. However, it
i
must be remembered that the share of FDI in total investment in China is less than 8%,
reflecting the extent of capital formation in the economy. The entry of China into the WTO will
make China a more transparent and less subsidised economy, meaning more market access
opportunity in the domestic markets of China. India could be described until recently as a
traditional “mixed economy” with a large public sector, but also lot of private entrepreneurship.
*Centre for Indian Ocean Studies, Osmania University, Hyderabad, India.
China by contrast has been for the most part a command economy, which until recently had a
small private sector, and only recognised the legal possibility of home-grown capitalists a few
years ago. The Chinese economy has grown at an average annual rate of 9.8% for two-and-half
decades, while India’s economy has grown at around 5-6% per year over the same period.
1
2. Chinese growth has been relatively volatile around this trend, reflecting stop-go-cycles of state
response to inflation through aggregate credit management. The higher growth in China
essentially occurs because of the much higher rate of investment in China. The investment rate
in China (investment as a share of GDP) has fluctuated between 35 to 44 percent over the past
25 years, compared to 20% to 26% in India. In fact, the aggregate incremental capital-output
ratios (ICORs) have been around the same in both economies. Within this, there is the critical
role of infrastructure investment, which has averaged at 19% of GDP in China compared to 2%
in India over the 1990s.
China has far more impressive achievements in the social sector than India, as shown in the
Table-1 below.
TABLE-1 SOCIAL SECTOR INDICATORS-A COMPARISON OF INDIA AND
CHINA -2005
DESCRIPTION INDIA CHINA
Gross enrolment ratio in 99 114
primary schools (%)
2
3. Adult Literacy (%) 65 91
Labour cost per worker in 1,192 729
manufacturing($per year)
Education expenditure(%of 13 13 (Excluding dropouts
central govt.expenditure) reenrolling)
Physicians(per 1,000 0.4 1
population)
Health expenditure(%of 5 6
GDP)
Health expenditure per 24 49
capita($)
Contraceptive prevalence rate 52 83
(%)
Human Development Index 0.602 (HDI Value) 0.755 (HDI Value)
(HDI) 127(Rank) -Year 2003 85(Rank)- Year 2003
Source: TATA Economic Services and Tenth Five Year Plan, Government of India.
The mantra of China is sharply focused on becoming an economic superpower and hence
everything else follows-foreign policy begins and ends with economic policy.
China is creating a national economy, and the result is a massive and painful restructuring of
industry and society. Competition across provincial boundaries is becoming a reality. As a
result, the country is experiencing deflation, a continual decline in prices. As prices fall, the
economy stagnates.
Chinese export growth has been much more rapid, involving aggressive increases on world
market shares. This export growth has been based on relocative capital that has been attracted
not only by cheap labour but also by excellent and heavily subsidised infrastructure resulting
from the high rate of infrastructure investment. In addition, since the Chinese state has also
been keen on provision of basic goods in terms of housing, food and cheap transport facilities,
this has played an important role in reducing labour costs for employers. In India, the cheap
3
4. labour has been because of low absolute wages rather than public provision and underwriting
of labour costs, and infrastructure development has been minimal. So it is not surprising that it
has not really been an attractive location for export –oriented investment, its rate of export
growth has been much lower, and exports have not become an engine of growth.
In terms of inequality, in both economies the recent pattern of growth has been inequitable. In
China, the spatial inequalities across regions have been the sharpest. In India, vertical
inequalities and rural-urban divide have become much more marked. In China recently, as a
response to this, there have been some top-down measures to reduce inequality, for example
through changes in tax rates, greater public investment in western and interior regions and
improved social security benefits. In India, it is political change that has forced greater
attention to redressing inequalities, though the process is still very incipient.
In terms of the future prospects, surprisingly, both economies end up with very similar issues
despite these major differences. There are clear questions of sustainability of the current pattern
of economic expansion in China, based on high export-accumulation model that requires
constantly increasing shares of world markets and very high investment rates. Similarly, the
hope in some policy quarters in India that information technology-enabled services can become
the engine of growth is one, which raises the problems of sustainability.
The most important problems in the two economies are also similar mainly the agrarian crisis
and the need to generate more employment. In both economies, the social sectors have been
neglected recently by public intervention. In both countries, the policy message appears to be
the same, that the most basic issues are those that require to be addressed first, and if so, the
other areas of expansion will probably look after themselves.
India has individual liberty, political pluralism, and the institutional framework to take
advantage of globalization. However it is constrained by mass poverty, lackadaisical
government, growing fiscal problems, and a poor physical infrastructure. China has much less
degrading poverty than India, which has more trade and investment links, while Chinese have a
4
5. superior physical infrastructure. It is rapidly conforming to global behaviour patterns, and
creating an internationally accepted legal system. However it too has fiscal problems, hidden in
the banking system, and political risk.
China’s industrial strength and infrastructure, and its vast pool of skilled labour, make it a
natural choice for the manufacturing sector. India, on the other hand, with booming information
technology sector and its huge reserves of English-speaking graduates, is a better option for
outsourced service and technology development facilities. China has been favoured heavily by
multinational corporations (MNCs) for manufacturing, with only limited business process
outsourcing (BPO) activity coming in from Japanese and Korean firms. As opposed to the
concentrated outsourced services and R&D facilities found in India, China is the hub of
manufacturing.
As the WTO and TRIPS agreements progress, the export orientation of each country may cross
into the present domain of the other due to drops in garment quota requirements and
strengthening of the IPR culture.
The key strategies of Chinese reforms was to first effect a massive increase in incomes in the
rural areas, and then meet the demand for consumer goods by encouraging the growth of VTEs
(Village and Town Enterprises). The VTEs met the demand for basic consumer goods in the
rural areas itself. There was continuous decentralisation, and a system of profit taking with
punishment for default. In India, the agricultural sector still accounts for about 70% of
employment, but its share in GDP is down to 25% in other words the relative per capita income
of the agricultural worker must be going down.
China can assist India in her globalization efforts, by cheaper imports from China and using
them to produce low cost products in India itself, through the joint-venture strategy. By trading
with China, India can be a little more competitive in global markets. A strategy of engagement
with China and facing up to competition can be India’s policy for the future.
5
6. India must emulate China by taking advantage of its cheap, hardworking and skilled workers to
leverage better in world markets. To compete effectively, India needs to expand its primary and
secondary education, and give more emphasis to vocational education and training.
China is infact “many small markets”, rather than “the world’s biggest market”. China today
has good infrastructure-railways, roads and airports-so there is for the first time substantial
inter-city and inter-provincial commerce, as one city can compete against “backward
manufacturers” in another. Consequently there is the rise of national domestic brands.
At the political level, the Communist Party of China, eaten underneath by corruption still
survives. One day new attitudes will push aside the corruption of the old, and a new China will
emerge. Beijing strikes hard against recalcitrant elements and dissidents-but dissidents can be
muzzled-not their ideas.
Since 1978, when the great modernizer, Deng Xiao Ping began China’s reforms, and later in
the nineties with former President’s Jiang Zemin’s vision, China has moved rapidly in its
growth rates. However the new Chinese leadership needs to move ahead faster in political
reforms. To recall, Chairman Mao’s words “it takes only one spark to start a prairie fire”. The
next spark should not cause any dramatic upheavals.
The share of manufacturing in China’s GDP is 49%, and Services constitute 33% of GDP.The
biggest current draw for international investors is the “Western Development Project”
(headquarters in Chonqing), initiating grandiose plans for Xinjiang and Tibet.
At the geo-political level, Sino-Indian relations should rise above the present border disputes,
and past tilts. Relations should be non-hyphenated, and stand-alone, not guided by any third
country. India occupies a special place, as the land of the Buddha in China.There is also
admiration in India for China’s economic achievements. India has an edge over China in terms
of intellectual capital for the future knowledge economy.
Some of the general strengths and weaknesses of India and China are enumerated below.
6
7. Strengths of China
Confucian ethic of discipline and obedience.
Authoritarian Militarist State, with severe penalties for non-compliance.
Highly disciplined top leadership that implements decisions once agreed, without further
argument.
Productivity of Chinese labour is five times that of India.
China has a system of incentives and disincentives at Central, State and Town-level for
performance.
Small-scale imitator of well-known brands, giving better quality for a lesser price, not the
original branded manufacturer. Chinese “under design” products to make them affordable
by poorer households. Those who can afford to pay more for superior quality do so. In
India, established manufacturers are unlike the Chinese; they are conditioned by MNCs,
whose practices evolved in markets that can afford high prices for superior products, and
that suited an economy where capacities were restricted by license. China dominates export
of labour-intensive products world-wide-India does not, except in gems and jewellery.
Chinese manufactured goods exports as a % of GDP was 18%-as against 4% for India
(1999-2000).
China has a system of incentives and disincentives at central, state and town level- for
performance and non-performance.
Foreign investment in China is in land, buildings, plant and machinery. Of the
comparatively small foreign investment in India, a high proportion is in portfolio
investment, and in buying existing capacities.
Weaknesses of China
Communist Party of China still dominating, with no democratic dissent tolerated.
The Chinese legal system has still many weaknesses for corporate grievance redressal.
7
8. China has yet to adapt fully to rules and regulations of a free market economy.
China has lax labour regulations, and workers in many industries have to toil for longer
hours.
Working conditions are tough, as workers stay in crammed dormitories inside industrial
zones to work from 8 A.M to 8 P.M.They are not allowed to form their own associations at
national or regional level. This advantage may not last long, as workers become conscious
of their rights. Even though labour issues are not raised at WTO, such unsound procedures
and practices could come under attack.
China’s entry into WTO will call for a “fresh look” at its global interaction and domestic
re-structuring.
Corporate governance too is not of a high quality, as transactions are not wholly
transparent. Managers of State Enterprises indulge in various irregularities-like siphoning
of funds offshore, which in many cases comes back disguised as FDI.
Chinese capital markets too are underdeveloped-regulations are not in tune with free-
market earnings. Foreign investors can invest in B-group shares-only at Shanghai and
Shenzen-and cannot indulge in A-group shares-meantstrictly for locals.
Strengths of India
A stable and vibrant democracy. India’s greatest achievement is sustaining a democracy in
exceptionally difficult circumstances.
Wide use of the English Language.
Availability of world-class scientific, technical, managerial and professional manpower.
Established Western style corporate democracy and a functioning legal system for
grievance redressal and contract enforcement.
A growing and sizable middle-class estmated at 200 million.
i
8
9. Our culture encourages risk without reward, and as our defence forces have shown, we can
be extremely disciplined and productive.
Weaknesses of India
Hypocrisy of our political leadership.
Poor implementation capacity of our administration.
Speculative mentality of our industry.
Rampant corruption, stifling the delivery system of any constructive programme.
“Vested Interests” and “Entrenched Rural Hierarchies” hampering any societal
changes.
Our bureaucrats and politicians have yet to develop awareness that more trade and
intensified economic relations enhances India’s securit , power and influence.
y
The similarities are striking. China and India are amongst the five biggest countries in the
world in terms of area, geographical diversity, population, market-size and economy measured
in terms of purchasing power parity. Both countries were colonized by western powers, and
attained independence within a few years of each other in the mid twentieth century. They both
pursued socialist models of development before opening up gradually, China from 1978, and
India from 1991.China and India are presently the fastest growing major economies of the
world, although the majority of the population continues to be dependent on agriculture. The
state sector continues to dominate economic activity in both countries, with the role of private
enterprise expanding fast. In both China and India rapid economic growth has widened regional
economic disparities.
Both China and India face serious fiscal problems and ballooning domestic debt and contingent
liabilities, needing major public sector adjustments in the foreseeable future. However, much of
India’s public sector deficit has been absorbed directly by the government, whereas China has
relied more heavily on the banking system to fund the deficit. Therefore, while India has higher
fiscal deficits, China’s banking system has more non-performing assets.
9
10. Corruption is endemic in both China and India.However, in China it is more centralized around
the entrenched communist party, which practically guarantees quick action. In India corruption
is more dispersed, and outcomes less certain. Because corruption in India is subject to
legislative, media and judicial oversight, it is less of a systemic risk than in China.
China has shown far grater urgency in privatizing and closing a large number of state
enterprises, while India’s privatization progamme has floundered. While China has effectively
lowered trade barriers, with customs tariff collections comprising only about 3% ad valorem,
Indian tariffs are still amongst the world’s highest. Economic decentralization has proceeded at
a much faster pace in China, with local governments in China having effective economic
strengths and decision-making powers; wheras India’s centralized economic control is
loosening only gradually.
While China is a closed society run by a tightly knit communist party, India is an open,
democratic society, with an independent judiciary and press. With political dissent not aired in
the public domain, China has overt political stability, arguably difficult to sustain during a
severe economic downswing.
Both China and India face major future developmental threats: for India these centre on
policies to enhance savings and growth rates to remove poverty within a targeted time frame;
for China the threats are more institutional, with institutions, especially financial, legal and
political, not in sync with the needs of a market economy.
10
11. The areas of convergence of interest between China and India and the time-frame in which they
start influencing decision making is given in the Table-2 below-
TABLE 2 -AREAS OF CONVERGENCE OF INTEREST BETWEEN CHINA AND
INDIA
Area of Convergence When Became Apparent Joint Approach
st
Himalayan environment First decade of the 21 Joint eco-restoration in border
Century areas and Tibet
st
Further Eastward or First decade of the 21 Commonality of interest with
Southward expansion of Century Russia
NATO
Any Further Weakening of Immediate Several Possibilities
Russia
Increasing US military Immediate Commonality of interest with
presence in Central Russia Russia
Asian Stability Immediate Several Possibilities
Global Multi-Polar Stability Anytime in future In concert with UN
st
Source-“Dealing with China in the 21 Century” in Restructuring South Asian Security by
Vinod Saighal (cited in References)
China could overtake India as the next Information Technology (IT) power and business-
outsourcing hub for countries like the US, despite its lack of experience. China’s offshore
services will mature within the next five years, and companies should begin looking at the
country as a potential source for IT-enabled services. Lower costs (roughly 1/6th of US
counterparts), political stability, strong GDP growth (7.9% in 2001)-the country offers the kind
of environment needed by interested global companies.
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12. India-China bilateral trade has now crossed the $12 billion mark. However, the top five exports
to China comprise mainly primary or low value –addition products -iron- ore, plastic and
linoleum, ores and minerals, marine products and drugs and pharmaceuticals. Her imports from
China are electronic goods, coal, coke, and organic chemicals, silk, medicinal and
pharmaceutical products. India should move up the value chain, and export more IT-related
products and pharmaceuticals, as it is doing recently.
However, despite China’s better image abroad, the image of Indians abroad is very high in
complete contrast the image of India is poor-but improving. The Indian diaspora has gained
considerable salience abroad, a number of Indian $ billionaires live in the US and are highly
rated. Despite loud proclamations, foreign investors consider everything unfriendly about
India-the government, the bureaucracy and the infrastructure. We have to change the mind-set
and working of Indian institutions.
India’s trade with China is set to grow to $20 billion by 2007.During 2005-06, trade between
the two countries is expected to be around $15 billion. Trade and economic co-operation hold
the key to strengthening overall bilateral relationship. During 2000-01, India-China trade
volume was just $2 billion, but rose sharply to $11.3 billion in 2004-05.However, the trade
basket needs diversification, from raw materials and products of natural resource-based
industries. If the trade and economic linkages is to expand exponentially, it is imperative that
diversification takes place in the commodity-mix. China and India between themselves produce
practically everything, cheaply and with high quality.With high export growth rates-India and
China is galloping, but they must also gallop in tandem with each other.
A recent study by Goldman Sachs shows that India will take a long time to catch up with
China-may not catch up even by 2050.This is because China has a much larger base in GDP
than India; therefore, even smaller relative increases in income for China would mean a higher
absolute increase than India. This is shown from Table-2 below.
TABLE-3 What will it take for India to catch up with China?
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13. India Year Growth Rate (%)
To catch up China by 2050 8.9
To catch up China by 2020 11.6
Average growth rate since 2000 6.2
Average growth rate in 1990s 5.6
Average growth rate in 1980s 5.6
Source: Will India Catch-up with China? Mohan Guruswamy et al, Centre for Policy
Alternatives, New Delhi.
China is today the world’s manufacturing hub. India should emerge as the world’s technology
and IT (Information Technology) hub, if it follows pro-active policies. India and China thus
have a lot to learn from each other’s experience, and can be dynamic partners, rather than
competitors in the globalised world.
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14. REFERENCES
1. Chang, Gordon G The Coming Collapse of China, Random House, New York, 2001.
2. Gary S.Baker, Chug Along with China, ET, 2003.
3. Jayati Ghosh, Divergent Development Models, Frontline, September 9, 2005.
4. Tony Nash, China or India? -It’s China & India, Economic Times, May 11, 2005.
5. Shroff, Minoo R, China’s Remarkable Economic Growth-Some Lessons, Forum of Free
Enterprise, Mumbai, 2000.
6. Wadhva, Charan D, Geo-Economic Positioning of India’s Trade and Allied Relations:
Perspectives on India’s Experience with Regional Integration in V. A Pai Panandiker and
Ashis Nandy, Contemporary India, Tata McGraw Hill Publishing Company Ltd. New
Delhi.
7. Saighal, Vinod, Re-structuring South Asian Security, Manas Publications, New Delhi,
2000.
8. Mohan Guruswamy et al, Will India Catch-up with China?, Centre for Policy Alternatives,
New Delhi, 2005.
9. Yasheng huang and Tarun Khanna, Can India Overtake China? Foreign Policy,July-
August,2003.
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