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Economy of india and china


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Brief Data about INDIA vs CHINA

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Economy of india and china

  1. 1. ECONOMY OF INDIA AND CHINA<br />Making an in depth study and analysis of India vs. China economy seems to be a very hard task. Both India and China rank among the front runners of global economy and are among the world's most diverse nations. Both the countries were among the most ancient civilizations and their economies are influenced by a number of social, political, economic and other factors. However, if we try to properly understand the various economic and market trends and features of the countries, we can make a comparison between Indian and Chinese economy.<br />In some respects, the rise of India has been greatly overshadowed by what has happened in China over the past twenty years. If the development in China had not occurred, then it would be India that would be considered the new darling of global growth. To some extent, that has enabled India to commence its own growth curves without the media attention that has been focused on China.<br />If we make the analysis of the India vs. China economy, we can see that there are a number of factors that has made China a better economy than India. First thing, India was under the colonial rule of the British for around 190 years. This drained the country's resources to a great extent and led to huge economic loss. On the other hand, there was no such instance of colonization in China. As such, from the very beginning, the country enjoyed a planned economic model which made it stronger.<br />Going by the basic facts, the economy of China is more developed than that of India.<br />BASISINDIACHINAGDP(Nominal)$1.235 trillion(11th)$4.990trillion(3rd)GDP(PPP)$3.526 trillion(4th)$8.770trillion(2nd)GDP Growth7.4%(yr-2009-10)9.1%(yr-2009-10)GDP Per Capita(nominal)$1031(yr-2009)Rank-139$3677(yr-2009)Rank-97GDP Per Capita(PPP)$2941(yr-2009)Rank-128$6567(yr-2009)Rank-98GDP(By Sector)Agriculture-17.5%Industry-20%Services-62.5%Agriculture-10.9%Industry-48.6%Services-40.5%Inflation10.16%(may-2010)3.1%(Q-2,2010)Labour Force467 million(yr-2009)812.7 million(yr-2009)Labour Force(By occupation)Agriculture (52%)Industry (14%) Services (34%) (2003)Agriculture (39.5%)Industry (33.2%)Services (27.2%) (2008)Gini Index36.846.9Unemployment10.7%4.3%Exports$155 billion (yr-2009 )$1.2 trillion (yr-2009)Imports$232.3 billion (yr-2009 )$1.01 trillion (yr-2009)Revenues$153.5 billion (yr-2008 )$972.3 billion (yr-2009)Expenses$223 billion (yr-2009 )$1.137 trillion (yr-2009)Foreign Reserves$287.37 billion $2,447.1 billion <br />MAIN INDUSTRIES:-<br /><ul><li>INDIACHINAtelecommunications textiles chemicals food processing steel transportation equipmentcement mining petroleummachineryinformation technologymining and ore processing iron steel, aluminium and other metals Coal machine building Armaments textiles and apparelpetroleumcement chemicalsfertilizers consumer products including footwear toys, and electronics food processing transportation equipment including automobiles, rail cars and locomotives, ships and aircraft telecommunications equipment commercial space launch vehicles and satellites</li></ul>IMPORT GOODS<br /><ul><li>INDIACHINAcrude oilmachinery gems Fertilizer chemicalselectrical and other machinery oil and mineral fuelsoptical and medical equipment metal ores plastics organic chemicals</li></ul>EXPORT GOODS<br /><ul><li>INDIACHINAsoftware petroleum productstextile goods gems and jewellery engineering goodsChemicals leather manufactureselectrical and other machinery including data processing equipmentapparel textiles iron and steel optical and medical equipment</li></ul>MAIN EXPORT PARTNERS<br /><ul><li>INDIACHINAUS 12.3% UAE 9.4%China 9.3%US 17.7%Hong Kong 13.3% Japan 8.1% South Korea 5.2% Germany 4.1%</li></ul> <br />MAIN IMPORT PARTNERS<br /><ul><li>INDIACHINAChina 11.1%Saudi Arabia 7.5% US 6.6% UAE 5.1% Iran 4.2% Singapore 4.2% Germany 4.2%Japan 13.3% South Korea 9.9% Taiwan 9.2% US 7.2% Germany 4.9%</li></ul>MAIN SECTORS OF ECONOMY<br /><ul><li>INDIACHINAAgricultureMilkCashew NutsTeaWheat RiceSugarCottonBanking and financeCommercial BanksCooperative BanksNon banking financial companiesNatural ResourcesCoalIronManganeseLimestonePetroleum and Natural GasPharmaceuticalsMicaBauxite AgricultureRiceOilseedsWheatTobaccoSoybeanPeanutsMilletEnergy and mineralsMiningHydroelectric ResourcesCoalOil and Natural GasMetal and Non metalsIndustry and manufacturingSteel IndustryAutomotive IndustryTelecommunicationDefence IndustryShipping IndustryPharmaceutical Industry ServicesTourism