Comparative Development of India & China: Economic, Technological, Sectoral & Socio-cultural Insights

India and China's economic growth has shifted from agriculture to manufacturing and service-based economies, and Comparative Development of India and China explores opportunities and vulnerabilities for collaborative effort to contribute to their prosperity and progress.

Format: Paperback / softback
Length: 508 pages
Publication date: 15 January 2021
Publisher: SAGE Publications India Pvt Ltd

Over the past three decades, India and China have experienced remarkable economic growth, solidifying their prominent position in the global economic landscape. These two nations took significant steps towards liberalization and market regulations, resulting in a transformative shift from agriculture-based economies to manufacturing and service-based economies. In this context, Comparative Development of India and China presents cutting-edge research on economic, technological, sectoral, and sociocultural issues, shedding light on the opportunities and challenges faced by these two fastest-growing nations. This edited volume explores the similarities and differences in thought and practices between India and China, highlighting potential areas for collaborative efforts to promote prosperity and progress. The perspectives offered by esteemed Indian and Chinese scholars in this collection provide diverse outlooks and insights into these two countries, all within a unified thematic framework.

India and China's economic growth has been nothing short of extraordinary over the past three decades. Both countries have undergone significant transformations, moving from agriculture-based economies to manufacturing and service-based economies. This shift has been driven by a combination of factors, including government policies, technological advancements, and increased investment in infrastructure.

India's economic growth has been particularly impressive, with its GDP growing at an average annual rate of around 7% over the past three decades. This growth has been driven by a diverse range of sectors, including agriculture, manufacturing, services, and technology. The country has made significant progress in areas such as healthcare, education, and infrastructure development, and has a large and growing middle class.

China, on the other hand, has experienced even faster economic growth, with its GDP growing at an average annual rate of around 10% over the past three decades. China's growth has been driven by a massive investment in infrastructure, manufacturing, and technology, as well as by the opening up of its economy to foreign investment and trade. The country has become a global manufacturing hub, producing a wide range of products, from consumer goods to high-tech equipment.

One of the key factors that have contributed to India and China's economic growth has been their commitment to liberalization and market regulations. Both countries have opened up their economies to foreign investment and trade, which has led to the inflow of capital and technology. This has helped to improve productivity, increase efficiency, and create new job opportunities.

However, with economic growth comes challenges, and India and China have faced a number of them. One of the biggest challenges is the issue of income inequality. While India has made significant progress in reducing poverty, there is still a large gap between the rich and the poor. In China, income inequality has been a more pressing issue, with a large number of people living in poverty and a small number of people living in extreme wealth.

Another challenge is the issue of environmental sustainability. Both India and China have faced significant environmental challenges, including air pollution, water pollution, and deforestation. In order to address these challenges, both countries have implemented policies aimed at promoting sustainable development, including renewable energy, clean technology, and environmental protection.

Despite these challenges, India and China continue to be major economic powers
powers in the global economy. Their economic growth has had a significant impact on the world economy, and has helped to drive economic development in many other countries. In addition, their technological advancements and innovation have played a key role in driving global progress in areas such as healthcare, education, and infrastructure development.

In conclusion, India and China's economic growth has been nothing short of extraordinary, and has played a critical role in shaping the global economic landscape. Their commitment to liberalization and market regulations, combined with their technological advancements and innovation, has helped to drive economic development and create new job opportunities. However, with economic growth comes challenges, and both countries must continue to work to address issues such as income inequality, environmental sustainability, and social inequality. By working together and collaborating, India and China can continue to play a key role in driving global economic growth and promoting prosperity for all.

Weight: 640g
Dimension: 215 x 139 (mm)
ISBN-13: 9789353886097