41% of Indians think India will lead world economy

[cirr]

November 10, 2013 09:18 IST

H S Rao in London

Indians are divided on whether their own country or neighbour China will take the pole position in the world economy over the next two decades, according to a survey.

The survey conducted jointly by leading market research organisation Ipsos MORI and the prestigious King's College of London found 42 per cent of Indians believe China would be the leading economic power, while 41 per cent said their own country will be in the driver's seat.

The survey, released at the launch of King's International Development Institute, also found that that despite an economic downturn and political troubles, America is still considered the main source of economic ideas.

It asked people of different ages and socio-economic backgrounds which countries have the right ideas about the economy and jobs, and which countries they think will be the leading global economic power over the next two decades.

Within the BRICS (Brazil, Russia, India, China and South Africa), the public feel confident that their own countries will be among the leading economic powers in the coming decades, but aside from China, have little confidence in each other as global economic leaders.

However, Only 2 per cent of respondents in China, 2 per cent in Russia, and 6 per cent in Brazil named India as a potential leader over the next 20 years.

Twenty-nine per cent of people from emerging markets chose US as the best option for providing jobs for young people. This is almost twice as many as those who choose China (17 per cent) or the EU (18 per cent).

The United States and China are considered the top two for having right ideas about economy and employment opportunities currently (28 and 26 per cent respectively), the survey found.

The US is particularly popular for having the right ideas on economic growth and employment in India (43 percent), Mexico (41 per cent), South Africa (39 per cent) and Brazil (38 per cent).

However, over half (52 per cent) believes China will be the leading economic power in the next two decades, giving it a 22 point lead over the US, the survey said.

The EU trails behind at 12 per cent, only marginally ahead of Russia (11 per cent) and India (10 per cent).

"It is surprising to see that the US and China are now just a whisker apart" said Dr Andy Sumner, Co-Director of the King's International Development Institute.

"This survey is interesting in the sense that it s not of experts or economists, but of the public in these key developing economies, therefore delivers a general measure of mood, of who is seen to be on the up or heading down," said Bobby Duffy, Managing Director of Ipsos MORI's Social Institute.

41% of Indians think India will lead world economy - Rediff.com Business

 

[ranjeet]

Was this survey conducted during happy hours?

 

[Indian-Lion]

china will be the next big thing not India

 

[Srinivas]

India has the potential, Chinese rise is over.

 

[Chanakya's_Chant]

Well if not the number 01 - its a unanimous view that India is all set to become the worlds Third Largest Economy by 2030 - despite of the recent economic slowdown in which the worst part of it is finally over and the Indian Economy is in the recovery mode - thanks to the recent economic reforms leading to a surge in the exports - declining trade deficit - CAD under the planned limit and above all stalled projects being cleared through the formation of CCI - with the giant reforms coming in after the General Elections - target 2030 seems undoubtedly achievable even with the real GDP growth rates compounded by the IMF till 2018 - which are perceived to be somewhat pessimistic even being compared to those submitted by the World Bank, Nomura and other premier rating agencies....

 

[Vinod2070]

Why are some zombies from a particular place so obsessed with India!

 

[UKBengali]

Well if not the number 01 - its a unanimous view that India is all set to become the worlds Third Largest Economy by 2030 - despite of the recent economic slowdown in which the worst part of it is finally over and the Indian Economy is in the recovery mode - thanks to the recent economic reforms leading to a surge in the exports - declining trade deficit - CAD under the planned limit and above all stalled projects being cleared through the formation of CCI - with the giant reforms coming in after the General Elections - target 2030 seems undoubtedly achievable even with the real GDP growth rates compounded by the IMF till 2018 - which are perceived to be somewhat pessimistic even being compared to those submitted by the World Bank, Nomura and other premier rating agencies....

By 2030, I think the GDP order would be:

1. China
2. US
3. China

I think that Indian GDP growth would average around 6-7% a year till 2030.

 

[Chanakya's_Chant]

By 2030, I think the GDP order would be:

1. China
2. US
3. India

I think that Indian GDP growth would average around 6-7% a year till 2030.

The IMF has compounded the same modest 6% - 7% growth rate till 2018 whose pessimistic outlook is not being shared by neither GOI nor the premier rating agencies like Nomura, Standards' and Poors', Goldman Sachs and not even the World Bank as of now and let me tell you even if it all goes the way its is going now then also - yes India's growth rate may not jump to double figures as it happened in 2010 but still an 8% growth rate till 2030 is inevitably achievable but these are merely speculations all depends on the 2014 General Elections in which Modi's victory can fare well in the long run - as pointed out by Goldman Sachs recently.....

 

[UKBengali]

The IMF has compounded the same modest 6% - 7% growth rate till 2018 whose pessimistic outlook is not being shared by neither GOI nor the premier rating agencies like Nomura, Standards' and Poors', Goldman Sachs and not even the World Bank as of now and let me tell you even if it all goes the way its is going now then also - yes India's growth rate may not jump to double figures as it happened in 2010 but still an 8% growth rate till 2030 is inevitably achievable but these are merely speculations all depends on the 2014 General Elections in which Modi's victory can fare well in the long run - as pointed out by Goldman Sachs recently.....

We will have to wait and see.

8% average will be difficult as India is bound to suffer one or two further economic "slowdowns" between now and 2030.

 

[Han dominance]

So, here's what the final score is looking like in the China vs. India Nominal GDP Competition 2013:

China's GDP is expected to rise by around $1 trillion, while India's GDP is expected to shrink by $84 billion.

Interestingly enough, back in 1981 India's GDP ranked as the 10th largest ($196 billion) in the world while China's GDP ranked 15th ($168 billion) for the same year.

However, by 1982 China overtook India jumping to the 8th position and never looked back ever since.


This is for my Indian friends. Know this and keep it in your head.

* Between 1980-1989, India's Nominal GDP ranking fluctuated between the 9th and the 12th position.
* Between 1990-1999, India's Nominal GDP ranking fluctuated between the 12th and the 16th position.
* Between 2000-2009, India's Nominal GDP ranking fluctuated between the 11th and the 14th position.
* Between 2010-2013, India's Nominal GDP ranking fluctuated between the 9th and the 11th position.

 

[cirr]

Indians still living in the days of 8% plus growth？

lol！India will be lucky to average 6% for the next 20 years。

Living in delusion，or worse denial，is not conducive to the mental development of a nation。

 

[Srinivas]

Indians still living in the days of 8% plus growth？

lol！India will be lucky to average 6% for the next 20 years。

Living in delusion，or worse denial，is not conducive to the mental development of a nation。

As if chinese stats are real ....

Chinese are sitting in massive credit crunch and CCP is doing all it can to censor the news.

 

[Han dominance]

As if chinese stats are real ....

Chinese are sitting in massive credit crunch and CCP is doing all it can to censor the news.

If our stats are fake, Indian stats are even worse. As bad as it is in China, our corruption looks mild compared to Indian corruption. I don't think India has had a growing economy in the past 10 years. I dont think these guys just fake a few numbers, I think the entire Indian GDP is overstated by 60-75%.

Just look at how they lie about moon missions and mars missions using NASA technology but claim as its Indian accomplishments. If they are willing to lie to that extent, just imagine the amount of lies they spew in their economic numbers.

We are supposed to believe India has grown at 8% for the last 10 years but their currency collapsed. What kind of growing economy has a currency collapse?

The fact that the Rupee collapsed shows the Indian economy has not been growing over the past 10 years. All these so called Indian 'growth miracle' is delusional daydreaming by a delusional bunch of people that actually worship cows.

 

[wiqi21]

 

[Srinivas]

If our stats are fake, Indian stats are even worse. As bad as it is in China, our corruption looks mild compared to Indian corruption. I don't think India has had a growing economy in the past 10 years. I dont think these guys just fake a few numbers, I think the entire Indian GDP is overstated by 60-75%.

Just look at how they lie about moon missions and mars missions using NASA technology but claim as its Indian accomplishments. If they are willing to lie to that extent, just imagine the amount of lies they spew in their economic numbers.

We are supposed to believe India has grown at 8% for the last 10 years but their currency collapsed. What kind of growing economy has a currency collapse?

The fact that the Rupee collapsed shows the Indian economy has not been growing over the past 10 years. All these so called Indian 'growth miracle' is delusional daydreaming by a delusional bunch of people that actually worship cows.

Verbal Diarrhea from chinese as usual, with little content and more frustration.......

Chinese corruption is in Billions if not Trillions, right from Boxilai to HSR, every CCP official is corrupted from army recruiters to your top politician sons who run Billions of dollars of business. Too bad you don't even have the opposition party to point fingers at CCP, chinese are being made to obey as usual by CCP just like your emperors did to you in the past.

Moon Mission and Mars mission is a lie ......

I suspect some thing is burning here for the sake of fake han domination ....

Chinese mars mission failed spectacularly. why would USA give its tech help when India is about to capture 300 Billion satellite business market world wide. You assumption defies logic right!!!, as usual chinese logic defies all and some times they don't know what they write here.....

Rupee collapse !!!!! Now rupee is recovered to normal, I would like the rupee to be devalued.