India Vs China: India will beat China in contributing to the global economy, will have to achieve 8% GDP continuously for 5 years

India Vs China: India will beat China in contributing to the global economy, will have to achieve 8% GDP continuously for 5 years

Indian Economy: If the Indian economy continues to grow at 8 percent every year, then by 2028 it can contribute more than China to the growth of the global economy. For this, more investment will be required in areas like traditional sectors.  Barclays Plc has said these things in one of its reports. 

According to Barclays, India will have to invest more in sectors like mining, utilities, transport and storage.  Barclays economist Rahul Bajoria wrote in his note that the effect of more investment in these sectors will be seen on the entire economy.  He wrote that in the last few years there has been a decline in investment in these sectors and investment in telecommunication and digital sectors has increased. But there is a need for more investment by the government in these traditional sectors.  

Rahul Bajoria wrote in his note that more investment in traditional sectors will increase employment opportunities and increase people’s income, which will help in accelerating economic growth which policymakers also want. During 2005 to 2010, the Indian economy was growing at an average annual rate of 8 percent. And next year’s

According to Barclays, according to IMF data, China’s contribution to global GDP could be 26 percent in the next five years till 2028. Whereas India’s contribution is estimated to be 16 percent, which has been estimated on the basis of 6.1 percent annual growth rate. If India achieves an annual economic growth rate of 8 percent during this period, it can help in bridging the gap with China.  

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