Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2012        Go!    
 
 
June 26, Monday 2017 12:26 PM       

       HEADLINES: Handwriting is not that of Pulsar Suni’s, Dilip’s statement to be recorded                                              Kodiyeri comes down heavily on Modi                                              Woman tied to tree and assaulted, an insult to state, says Chennithala                                              Telephonic conversation between Dilip’s manager and Vishnu exposed                                              Unexpected hurricane at Kundamkulam                                              Five more TN fishermen arrested by Sri Lankan Navy                                              Modi greets nation on Eid, says diversity is India's strength                                              Sushma attacks Meira Kumar for interrupting her in 2013 LS speech                                              123 killed, 100 injured as oil tanker explodes in Pak                                              Malaysia-bound AirAsia flight ‘shaking like washing machine’ returns to Aus                                              Shiv Kapur makes cut, but slips to T-42nd in Germany                                              Super Srikanth lifts Australian Open Super Series                                              BAI announces Rs 5 lakh for Srikanth                                              Kaumudi Facebook
       BUSINESS Next Article: SBI to allow ATM withdrawals via e-wallet  
       Indian economy poses major challenges: Chinese think tank
 
         Posted on :18:02:59 May 11, 2017
   
A A
       Last edited on:23:44:03 May 11, 2017
         Tags: Indian Economy, Chinese Economy
 

BEIJING: China should take competition from India seriously as the Indian economy may see "explosive" growth in the future, raising prospects of it becoming "China 2.0", according to a Chinese think-tank.

The world's second largest economy should develop an effective counter growth strategy otherwise it may end up becoming a "bystander" to watch India's success.

"As China's demographic dividend diminishes, India, with half of its population below the age of 25, is poised to take advantage," a study on Indian economy by Chinese private strategic think tank Anbound said.

Pointing to Chinese economic slowdown which last year grew to 6.7 per cent in contrast to India's estimated GDP of 7.1 per cent for 2016-17, excerpts of the report published in the state-run Global Times today said "just as what happened with China in the past, the changes that are taking place in India may also point to great potential for development."

"With a large population of young people, which is not only the labour force but also a potential consumer group, India has the possibility of seeing explosive economic growth in the future. Therefore, we must pay close attention to the development of this unfamiliar neighbour," it said.

Referring to a question raised by one of its researchers that by "imitating, India may turn itself into China 2.0, and let global investors decide whether to invest in China or India" it said, "while Indian GDP may lag far behind, it remains a potential emerging market that has high attractiveness for global capital."

"A survey by Ernst and Young (EY) ranked India as the most attractive investment destination in the world. Among 500 executives from multinational companies involved in the survey, 60 per cent considered India one of the top three investment destinations in 2015. The country's vast domestic market, low labour costs and skilled labour market are its most attractive features," it said.

Referring to various Chinese firms including Huawei, Xiaomi, Oppo and others investing in India, the report said "in our opinion, if India intentionally creates a competitive situation in front of global investors, it will pose a challenge for China."

"Generally speaking, India does have the conditions to copy China's economic growth model thanks to its vast size and market, low labour costs and large population, which are all similar to China's conditions. In fact, based on the EY report, global investors are currently undecided," it said.

It said the Indian government appears confident about attracting investment as Prime Minister Narendra Modi hopes to boost the usage of clean energy over fossil fuels by building massive solar parks and is targeting USD 100 billion in investment in solar energy in the next five years, with the backing of loans from the World Bank.

"No other country could compete with India in supporting investors in the solar economy. It should be pointed out that China has not conducted enough studies on India. From the perspective of think tanks, China cannot wait until India grows into an apparently promising competitor before discussing how to deal with the situation," the report cautioned.

"As such, China should develop a more effective growth strategy for the new era or it may become an unfortunate bystander watching India's success. China needs to ponder and study the rise of the Indian economy carefully. With a young population, it is entirely possible for the emerging market economy to become China 2.0 to gain the attention of world capital," it added.

A A
       BUSINESS
Next Article: SBI to allow ATM withdrawals via e-wallet
 
 
BUSINESS HEADLINES
Rupee halts 3-day slide v/s USD; up 7 paise at 64.52  
Spice GST Suvidha provider is all geared up for July 1st  
Sensex tumbles 153 pts on profit-booking  
Sensex hits all-time high of 31,522  
RBI to keep rates unaltered in near term: D&B  
Sensex surrenders record gains on GST blues, mixed global cues  
GST to be rolled at midnight June 30: Jaitley  
India plans SAARC meet for startups: Nirmala  
Rupee gains 11 paise against dollar, stocks play anchor  
"Rs 700 cr worth of Momentum Jharkhand proposals implemented"  
JK govt to seek complete consensus before GST implementation  
Mobile data consumption rose 142% in last 3 yrs: Kant  
Gold loses sheen on weak global cues, muted demand  
Rupee opens lower by 15 paise against dollar  
Nifty ends below 9,600 post Fed rate hike  
Paytm, 1mg offer discounts ahead of GST  
Customers may get Rs 5,000 if int'l SIM card fails  
Sensex closes higher, Nifty advances as inflation cools  
RBI issues new Rs.500 bank notes with inset letter 'A'  
Govt close to resolution on stressed power projects: Goyal  
Inflation at record low of 2.18%; factory output slows to 3.1%  
Cut down on salads to save costs: AI staff  
GST: Lowers tax for 66 items, price of coir and cashew to go down  
GST Council revises rates for cinema tickets  
GoAir to launch additional flight on Delhi-Patna route  
 
Actress case: Do you think Pulsar Suni's letter is part of a conspiracy?
yes
 
no
 
don't know
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy