The debate of which country is growing faster, China or India, has been ongoing for many years. While both countries have seen tremendous economic growth over the past decade, India has outpaced China in terms of per capita GDP growth. Between 2010 and 2019, India’s per capita GDP growth was 5.2 percent, while China’s was 4.5 percent. This marked the first decade since the 1960s when India grew faster than China.
India’s economy has been growing at a rapid pace, with its GDP increasing from $1.2 trillion in 2010 to $2.9 trillion in 2019. The country has also seen a surge in its manufacturing sector, with exports increasing from $232 billion in 2010 to $539 billion in 2019. India’s services sector has also been booming, with exports increasing from $170 billion in 2010 to $539 billion in 2019.
China’s economy has also seen tremendous growth over the past decade, with its GDP increasing from $5.9 trillion in 2010 to $14.2 trillion in 2019. The country has seen a surge in its manufacturing sector, with exports increasing from $1.3 trillion in 2010 to $2.3 trillion in 2019. China’s services sector has also been booming, with exports increasing from $817 billion in 2010 to $2.3 trillion in 2019.
Despite China’s impressive economic growth, India has outpaced it in terms of per capita GDP growth. This is due to the fact that India’s population is much larger than China’s, and the country has been able to spread its economic growth across a larger population base. India’s population is expected to reach 1.4 billion by 2024, while China’s population is expected to remain at 1.4 billion.
India’s economic growth has been fueled by a number of factors, including the government’s focus on economic reforms, the emergence of the middle class, and the growth of the IT sector. The country has also seen an increase in foreign direct investment, with FDI inflows increasing from $31 billion in 2010 to $62 billion in 2019.
China’s economic growth has been driven by a number of factors, including the government’s focus on infrastructure development, the emergence of the middle class, and the growth of the technology sector. The country has also seen an increase in foreign direct investment, with FDI inflows increasing from $105 billion in 2010 to $136 billion in 2019.
Overall, India has outpaced China in terms of per capita GDP growth over the past decade. This is due to the fact that India’s population is much larger than China’s, and the country has been able to spread its economic growth across a larger population base. India’s economic growth has been fueled by a number of factors, including the government’s focus on economic reforms, the emergence of the middle class, and the growth of the IT sector. China’s economic growth has been driven by a number of factors, including the government’s focus on infrastructure development, the emergence of the middle class, and the growth of the technology sector.
