Can India be more powerful than China in this decade? If yes, why?
Usman PK, MA Political Science & Law, University of the Punjab (2015)
The Short Answer of this question is that India can never become powerful like china even in their dreams because India is like a balloon who is filled by the Air and when someone put an needle the whole balloon will be burst and it’s pieces will be scattered in the air. It is like an artificial economy which give artificial results as India foreign debt rises upto 529.7 billion US dollars. On other side India foreign reserves are touches 405.14 billion US dollars and economic experts claim that in September 2018 India foreign reserves fell 399.28 billion US dollars. Let’s see some historical economic comparison between India and China:
1: Economy Comparison:
The India and China are two Giant Countries not only in Area, population but also in economy as both GDP growth rate is rapidly increasing but there is little difference between the economy of these countries which are as follows:
The first and major difference between India and China economies are their foreign reserves. As India Foreign reserves are touches 405 billion US dollars but they fluctuate with time to time but now recently India foreign reserves fell to 399 billion US dollars.
The China Foreign Reserves are touching high to the sky as it reaches 3.51 trillion US dollars and in future it is going to beat the US foreign reserves. India is no where in economic competition with China as India economic growth is blessed by foreign investment and when foreign investor leave India it’s economy fell like a leaf as far as China economy is concerned It is built on purely National productions. China sell it’s own products rather than selling foreign products.
The India foreign debt increases every year as it surpasses their foreign reserves. The total foreign debt on India is around 529 billion US Dollars and if India did not take effective steps to counter foreign debt then it will be like the broken ship which can be sink in anytime.
The China foreign debt is around 1.71 trillion US dollars which is manageable by Govt of China. The trade war between US and China will also not affect the china economic stability as US is already under heavy debt of China and it will not be able to raise voice against it.
There is no doubt that India GDP is growing with the passage of time but still it’s economy is pump and fueled by foreign countries. As India current 2018 GDP growth rate is around 7.4% and it is expected to rise in upcoming years if it manage the security and peace and if they go to war with any country either limited or full then their economy will be on ground like zero.
The China is like Tortoise who walk slowly but reach their destination as china start it’s progress with very limited work force but now they turned themselves into world economic super power as China GDP growth rate is around 6.7% and it is expected to touch 7 to 8 % in upcoming years.
Well I pray for both Countries to continue their progress and development by peace and harmony as they should not indulge in war or skirmishes.
Ketan Gandhi, Research Analyst at Orion Market Research
In a decade, a big NO
Both India and China are developing economies and also among the major fastest economies in the World. India is growing faster than China but how much percent? Let's say 4% higher but still, the gap between the GDP is so high that we can not cover it. India's nominal GDP was $2.65 trillion whereas China’s was $12.23 trillion in 2018. 4.6 times more.
As of now, Modi’s target is to reach $5 trillion GDP by 2024, which is 5 years from 2019 and if we reach there by 2024, it will take 5 more years to reach $10–$11 trillion GDP. In that due course of time, there is a possibility that China will overtake the US and become the largest economy in the World. Moreover, after 2022–2023, we will become the largest population in the World, pressure on our natural resources will increase more, which I doubt will be able to provide us that much growth which we are getting in the present time.
There are several other factors which provide an edge to China over India like technological advancement in AI, cloud computing, communist government, self-reliance for internet (Youtube, Google, Facebook, Quora, Yahoo, Instagram,
Wikipedia, Pininterest are banned in the country and have developed their own websites), alternative of android, which can be discussed in detail. The country has huge oil reserves due to which they can devalue its currency which motivates exports. Considering all these, we can say that we are not going to surpass China at least in a decade.
Rohit Kumar, I am Still a Student (2015-present)
Yes it is and a recent research report from Harvard University disclosed that India is going to be the most powerful country in Asia by 2024.
It looks to be from the below points.