In 1993, both India and China were equally poor with GDP at USD377 per capita. Fast forward to 2019, India GDP per capita rose to USD2,104 while China fast-tracked to USD10,261… The only country that is comparable in size to China is India, as one has 1.40bn people and the other 1.33bn people, respectively. Combined, they are home to 36 percent of the world’s population. From May until the recent truce engineered in Moscow, the China-India border dispute has threatened to fracture efforts to foster bilateral ties between the two economies, such as the India banning of Chinese apps in response to the conflict.
Bestin Samuel via Fair Observer | While India teems with billionaires on one end, many are left counting pennies. The country has a glaring rich-poor divide.
India is experiencing an economic surge after Prime Minister Narendra Modi entered office in 2014. Investors see India as a growth opportunity. Last year, capital expenditure projects attracted $23 billion of foreign investment. Yet the country’s potential is clouded by environmental problems, which have been caused by pollution.
BANGALORE | By Srikanth Vasuraj | Indian economy needs a push. After a lull of almost 3 years in bringing in reform initiatives, due to political one-upmanship by the opposition parties, we have seen some key reforms passed Parliament in recent months. Whilst these are not expected to produce results overnight, they will become performance benchmarks for whoever forms the government after the 2014 general elections.
BANGALORE | By Srikanth Vasuraj | Is India headed back to 1991 crisis? It’s true that the country’s economy is slowing to dangerously low levels, although for PM Manmohan Singh the rupee’s sharp decline is partly due to the U.S. Federal Reserve closing the liquidity tap. The author analyzes the main drivers of the world’s largest democracy.