Chindia

India’s dynamic economy was able to stay clear from the global recession. This indeed can be a transitional period for India and in the coming decade I seriously think that India can grow faster then China.

Since last 30 years China was growing at an average of 10% per year. India’s average for the last decade was a healthy 7.5%. Much much better then the ‘Hindu rate of growth’ of 3.5%. Goldman Sach’s chief economist, Jim O’Neal said that 2011 India is China of 2001. Not that India is a decade behind, but the potential that India has in the coming decade. The most important thing working in India’s favor is its population. India’s working age population (20-65) will increase by 130 million by 2020, where as China will ‘only’ add 23 million, thanks to its ‘one-child’ policy of 1970’s. The mean age of India’s population is 27.5 years and China’s is 36.8. It is interesting to note that America’s mean age is 37 years but come 2020 and US will be younger (35) then China (38)

This all will only help if India implements ‘structural reforms’ and reduces redtapism that has become synonymous with government offices. This is a golden opportunity for India to get back its ‘rightful’ place in the global economy. I remember how Mr. Dhirubhai Ambani mentioned about India’s booming population growth in late 90’s during his speech at Wharton Business School. He said that 600 million youths are one of the biggest assets that India has to become an economic superpower one day.

Truer worlds where never spoken…