[AriaDesser]

India to Pass China as Fastest-Growing Major Economy

Business Week.
9 Feb 2009

All it the brighter side of the current downturn. India may pip export-dependent China in the last quarter of FY09 and emerge as the Fastest growing nation among all large economies.

As China's GDP growth rate dropped to 6.8% during the October-December quarter and is expected to go down further, the Indian government has become hyper-active to achieve at least a 6.5% growth in Q4 to register a win over China.

If India achieves a better growth rate than China even for one quarter, the message will go across to the world and help India in wooing foreign capital, waiting to chase growth stories. Already, government officials in India have been highlighting reports of a few investment analysts who doubted China's official GDP numbers and claimed that it could just be in the positive territory in the last quarter.

A secretary in the government of India confirmed to SundayET that India has a brighter chance of overtaking China in the last quarter of FY09, or Q1 in case of China which follows the calendar year.

"China is heavily dependent on exports and the way things are unfolding China's GDP for January-March quarter would be quite low. We have so far achieved 7.9% and 7.6% growth in the first two quarters, according to the provisional numbers. Though our Q3 number, to be announced by month end, is expected to be less than the comparable number in China (6.8% in Oct-Dec, 08), the softening of interest rates will stimulate demand and ensure a faster growth rate than China in Q4," he said.

Though the Chinese economy grew at 9% during 2008, down from the revised 13% growth rate in 2007, the last quarter number (6.8%) has made the Indian authorities hopeful that India might be able to pip China in GDP growth. As China's export constitutes 37% of its economy against 13% in the case of India, the recession in the developed world will make China suffer the most.

PM's economic advisory council (EAC) member Satish C Jha said he won't be surprised if India grew faster than China. "The situation in China is worse than us. Exports are drastically coming down and China is hit hard. Our economy is driven more by domestic demand and our rural economy is much more resilient than that of China. If our stimulus packages are implemented properly, I won't be surprised if India pips China in GDP growth," Mr. Jha said.

Copyright © 2008 Times Internet Limited. All rights reserved.

[RemiVedia]

40% of India's population lives below poverty line. It has the world's largest poverty.

Improve on their people first before saying anything else.

[raspirator]

40% of India's population lives below poverty line. It has the world's largest poverty.

Improve on their people first before saying anything else.

Same for China

[beth]

Well According to my Knowledge India opened their economy in the year 92 which is almost 14 years after china signed the deal WTO, and uplifting millions above poverty aint a easy task , china is still at it ....... so are other BRIC nations , whose economy is above 8% or so ....I am sure a good read of Economic review will help you understand the Socio-economic system better.

india has been growing & growing at a phenomenal rate since 20 - 30 years ago ( according to keling reports anyway )..

how on earth til today, they are still so under-developed

[wrefrinny]

it's not important in the name who exceeds who. must see the reality what is the quality of life of those who live in the bottom of the society. same thing applies to other countries.

[beth]

I agree with you .

it's not important in the name who exceeds who. must see the reality what is the quality of life of those who live in the bottom of the society. same thing applies to other countries.

[beth]

I dont think this magazine has Indian writers? so would you believe only what you understand or some thing written by an White economist or a Chinese ?? I think a fair view things is the order of the day , looking at Grim Conditions Sg is at or for the matter of fact the whole World economy.

i dun need to read keling-written financial reports.. i know the real deal..

[beth]

Any balanced opinion is right mix or reports and Personal observation, i balance it.. may be you dont.

i dun believe in economist..

u believe huh??

[JNancy46]

Well According to my Knowledge India opened their economy in the year 92 which is almost 14 years after china signed the deal WTO, and uplifting millions above poverty aint a easy task , china is still at it ....... so are other BRIC nations , whose economy is above 8% or so ....I am sure a good read of Economic review will help you understand the Socio-economic system better.

Yes we all know u. Pretending to be on neutral ground. Yet of course u always only support 1 side.

[JNancy46]

Any balanced opinion is right mix or reports and Personal observation, i balance it.. may be you dont.

OMG quit telling lies when ur bias. Hate ppl like you.

[JNancy46]

india has been growing & growing at a phenomenal rate since 20 - 30 years ago ( according to keling reports anyway )..

how on earth til today, they are still so under-developed

As usual kelings blowing their horn, trumpeting themselves before they even accomplish it.


Now if a report stated china to beat the US as world superpower what would we find here?


PPl would come in and say those are lies hey it has not happened yet. Curse china, down with china.

Yet these same ppl would blow their horn and woop and shout before shitland has even accomplished it.


Amazing bunch of shits these kelings are, celebrating before they even accomplish it. No matter how poor or how under performing they are, they are equally as arrogant.

[Valdoyes]

40% of India's population lives below poverty line. It has the world's largest poverty.

Improve on their people first before saying anything else.

Never ever can India overtake China as the Fastest Growing Major Economy.
The reverse may be true.
The reason for my pessimism is simple and straight.
India is the World's Most Corrupted Country, where the Courts are lackaidaisical and cases may not be heard for 30 years.
India is run by the Nehru Dynasty who thinks they are the Kennedy's of that country.
Corruption runs deep and there is no mercy for the humans in need. Even animals are not spared.....
Donation money meant for catlle-feed was stolen by the husband and wife team from the most impoverished state of Bihar ("Prince" Laloo Prasad and "Emperess" Rabiri Devi). Laloo went to jail and wife became Chief Minister. He is now a Minister giving lectures around the World on how he turned around the Railway Industry. What a joke..........
Indira assasinated and Rajiv took over.
Rajiv blown up and Uralian Sonia took over the Congress Party.
Now in the corner stands Rahul.
That is why poor Dr Manmohan Singh is helpess.
The British Raj left India to Nehru and his ambitious "clique" after being there for nearly 350 years.
Now the Italians are ruling India from the coridors of power..
Sorry, India is a GONER and CHINA will overtake India. In China corrupt people are shot dead, whereas in India they get away scot-free.
That sadly is the HARD TRUTH.

[JNancy46]

Never ever can India overtake China as the Fastest Growing Major Economy.
The reverse may be true.
...................

Thanks for this info. I seriously hope these delusional ppl can see this for what it is but as usual let their emotions get in the way. It's too clear that in terms of corruption china is much much less corrupt compared to india.