Competitive situation between China and India is not beneficial to India: Chinese daily

Beijing, Jan 24 (KNN) Currently there is no evidence that India’s economy will surpass China’s in the long term, according to Global Time, a Chinese daily, report which add that the total economic output between the two nations will continue to widen.

The Global Times report states that India is set to grow at 7.4% this year as per IMF but still the Indian economy won't surpass that of China any time sooner.

The report comes after Prime Miniser Narendra Modi made a statement in Davos that India is capable of creating a 5 trillion dollar economy by 2025.

The writer of the article in Global Times said that India’s rapid economic growth follows the same general logic as China's growth and that the country boasts growth potential and harbours a long-time ambition to surpass China.

However he added, "I want to remind Indians that Chinese and Indian growth rates only differ slightly so far. Currently there is no evidence that India's economic growth will surpass China's in the long term. More importantlyl, China's GDP is over fout times than that of India. The projected growth rate for China and India this year is 6.6% and 7.4% (respectively). The absolute increment of China's economy will be far more than India's. This means that the total economic output between the two nations will continue to widen."

The Global Times editor further added that the actual annual economic increment in China has long surpassed that of US. The economic gap between China and the US narrows every year while the gap between China and India gradually widens.

He also warned that "a competitive situation between China and India is not beneficial to India".

"This is a point that Indians should understand," he added.

Currently, China has an economy of USD 12.250 trillion and India has a USD 2.439 trillion economy.