Editor’s Picks 15 September 2016 at 23:36 GMT

India needs to step up its GDP growth to catch rival China

Nikkei Asian Review
India's economy is doing well despite slower growth in the first quarter of fiscal 2016-17, but moribund private investment and a cloud of bad loans over banks are worries, according to Arvind Subramanian, chief economic adviser to the government. India's GDP grew by 7.1% in the April-June quarter, after 7.6% growth in 2015-16. Experts say India needs to grow by 8% to 10% per year for decades if it wants to catch up with China. “Export growth in both manufacturing and services will be essential to achieve 8% to 10% growth consistently,” said Subramanian. “For example, India has to capture the space created because of China's retreat from sectors such as textiles”.
Read full article at Nikkei Asian Review


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