Indian Economy is approx 16.5 years behind China
India is approximately 16.5 years behind China on broad business and economic parameters, according to latest research by Bernstein.
Various factors were included in this report such as patents, foreign direct investment (FDI), forex reserves, nominal gross domestic product (GDP), and exports.
The report found that India is behind China by 21 years when it comes to patents, 20 years in FDI, 19 years in forex reserves, and 17 years in exports. On nominal GDP and per capita income, India is 15 years behind.
In consumption expenditure, it is 13 years behind. On gross fixed capital formation, it is 16 years behind.
Bernstein has based its analysis on data from the Reserve Bank of India (RBI), the China’s National Bureau of Statistics, the Ministry of Statistics and Programme Implementation, the World Bank and the World Intellectual Property Organization.
