Two of the most significant economies in the world can be found in the emerging markets space: India and China.
India and China at present are two big power nations of the world. China is economic developed country and India on the other hand is emerging as economic developing country. The difference is huge in terms of the economics of both the countries. It started in late 80’s when the living standard of both the countries was same. China started to reform its economy whereas India started very late in comparison to China. India started to reform its economy after 1991. So the head start of china that of more than a decade helped china to become one of the superpower of the world. One knows that India is growing at a rapid pace in terms of economy and in near future can surpass china but as per the last year, GDP china was 5 times as much as India’s GDP. These clearly shows that China is way ahead of India due to its head start in terms of economy.
As an individual, India is very much different country than China in terms of infrastructure and demography. Over the decade where India’s growth was slow china turbocharged its economy. In terms of the basic economy growth, a country must build its infrastructure, investment and manufacturing power where India lacks in a big way than China. At present China is way ahead of India in the three departments. If India wants to be like china the three departments need to be looked after. The infrastructure of China is best among the western world and India still looks like a poor country. Similarly the investment and manufacturing sector needs to be cope up. The sooner all the three department will be taken care of the better India will emerge which will be no less than china.
India can definitely surpass China as India has the best manpower in the world at present whereas China has got a hit back from its policy of having one child which they have reversed now. Due to that, China will become old before it gets rich. At present, the Chinese economy is a way of concern as its growth has slowed down where as Indian economy is emerging at its pace. It depends on the policymakers of both the countries to utilize the resources at its best to make the economy grow.