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Chasing the Dragon: Will India Catch Up with China? by Mohan;Singh Guruswamy, Zorawar Daulet

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2

India Versus China: An Overview of the Major Socio-Economic Indicators

ECONOMIC AND SOCIAL COMPARISON

Even with their impressive growth rates in recent years, and despite their emergence in terms of absolute GNP among the world's top ten, both China and India remain excruciatingly poor countries; more so India than China. Table 2.1 below attests to this reality. In 2007, in terms of GNP, China with US$ 3,250 billion ranks third, while India with US$ 1,132 billion ranks tenth. This has given leaders of the two Asian giants' seats on the global high table. Although, when it comes to ranking in terms of per capita income (2005), which is a truer indicator of the condition of the common people, China and India drop off from the first page. India ...

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