Chinese-Dragon
RETIRED TTA
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you may be good at arithmetics but bad at logics..not long time ago china was very poor in numbers apart from population ..2to3 decades of financial success was enough for it to bridge the gap ..what makes you to think india wont strive for bridge these gaps? Open your eyes when sun shines but try to look beyond the day
What did it for us, was three whole decades of sustained average 10% growth. Which has never been done before in world history, we were the first ones to do it.
It's never been done before, China is the only one. There is no trend to show that anyone else can replicate our feat, but I am open to results if they come.
India's growth right now is around 4%. If the day every comes when you achieve sustained average 10% growth, then maybe you can start counting the beginning of your three decades.
Now our economy is $9.3 trillion. With such a large base economy, even with lower growth rates, we are still adding over $1 trillion to our GDP every single year. And we still double our economy every 5 years or so.
Now calculate what growth rate does India need (at $1.7 trillion) to add $1 trillion to your GDP every year like we are doing now. India has a much smaller base economy, thus in order to match our growth, you need a much higher percentage growth rate than we do.