Comparative Analysis of Economic Development: India and China

This report provides a comparative analysis of the economic development of India and China. It examines key indicators such as GDP, population, and per capita income, highlighting differences and similarities. The report delves into the causes of underdevelopment, including factors like poverty, corruption, and historical influences. It further analyzes the exports and imports of both nations, highlighting their reliance on primary products and the development of various industries like IT, technology, electronics, and clothing. The report also touches upon the conditions of labor and concludes with a list of references. This analysis offers insights into the economic trajectories of these two major global players, emphasizing the challenges and opportunities each faces in its development path.

Issues in World Development

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Comparison
Factors India China
Area Seventh largest Third largest
Population 1.3 billion 1.404 billion
GDP 2.6 Lakh crores USD 12.24 Lakh crores USD
Per capita income 7,060 PPP dollars 16,760 PPP dollars
Growth rate 6.6% 6.9%
Causes of underdevelopment
India China
Higher population under poverty line hence
lot of money goes on subsidies.
High amount of corruption at the political
level.
Higher population hence improving their
living standards is a challenge.
Higher amount of corruption in bureaucracy.
Yes, both the nations were British colonies. India got independent in 1947 and China got
independence in 1949. Both the nations were highly prosperous before being a colony. Since
all the wealth of the countries went to Britain hence it had impact on the development of the
countries. A lot of people came under poverty line which created a lag that even till today
they are not able to fill.
In terms of products India produces and exports refined petroleum and related products,
pearls, jewellery and precious stones, vehicle and vehicle parts, machinery, mechanical
appliances, boilers as well as organic chemicals. In services they export software services,
business services, travel, transportation services and financial services (India today, 2016).
China exports Tea, cotton, Rice, Soyabean and potatoes. They also export electronic items,
electric machineries, furniture, plastics, vehicles, iron and steel products (Commodity.com,
2019).

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Both the nations highly rely on the primary products and both of them have developed
different industries like IT, technology, electronics, clothing, accessories industry.
The condition of labour is not so good they have to be dependent on daily wages which is not
so good.
China imports mineral fuels, iron ore, coal while India imports are electronic products, heavy
machinery, plastics.

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REFERENCES
Commodity.com, 2019. China’s top commodity imports & exports. [Online] Available at:
https://commodity.com/china/. [Accessed on 19th May 2019].
India today, 2016. India's import report: A look at India's top 8 imports. [online] Available at:
https://www.indiatoday.in/education-today/gk-current-affairs/story/india-imports-343823-
2016-09-29. [Accessed on 19th may 2019]