There is hardly any doubt that China is far ahead than any developing economy including India. Pathetic infrastructure, terrifying unskilled population, wide rampant corruption, naxalite problem is the few factors which pulls India way behind China. But if we look at future prospect, scenario is very different.
China's rise is more because of manufacturing revolution while India’s because of services sector. To counter this, India is coming with a new plan of establishing NMIZs (National Manufacturing and Investment Zone) for repeating the success of services and making India a manufacturing hub. This will try to address the problems regarding inflexible labour laws, infrastructural bottlenecks, FDI inflows and such other problems. Further, India has already established the National Skill Development Corporation to tap the demographic dividend of the country. Huge and massive investment in to infrastructure is planned and will surely erode the infrastructural bottlenecks to a larger extent.
Beside other factors, one major factor which contributes towards China's phenomenal rise is the absence of venues which can offer them stiff competition in terms of investment. As they say, it is much easier to enter into China but very difficult to operate in China. Google controversy is not hidden and manifests this fact. Now when a country i.e. India, the largest democracy, the oldest continuing civilization on the face of earth, is slowly but steadily marking its presence felt, it is not very difficult to imagine where India will share this space with authoritative and communist china .
Moreover, most of the western countries are becoming sick of industrial productions because of rising concern of climate change, aging population and dwindling profit at home. This would certainly make these plants to shift to newer and much profitable places. And no place will be more lucrative than democratic India with largest young and English speaking population.
Since the manufacturing sector requires huge raw materials, it would be very difficult to sustain this higher growth with the domestic raw materials and resources in future. This will enable the China and other countries including India and other emerging economies to look for the raw material away from their homes. This will generate huge competition among the developing nations, eroding the competitive advantage of China.
Moreover, India’s strategic location in the Indian ocean, places India in much better position than China in exploiting the raw material and other resources from Africa , Australia, southwest and south east Asia. India is being encouraged by various ASEAN members to actively participate in their region to counterbalance the rising presence of China. Further, various south west Asian countries are actively being encouraged to invest their oil earned forex in India.Further, the friendly and old cordial relation with mineral rich Russia would also an advantage for India in near future
Further, as far as service sector is concern, India, with largest English speaking population in world, will continue to climb the ladder much faster than any country across the globe.
Moreover, it is not all about becoming the super power and comparison of growth rates rather it is the comparison of both the nation as a whole. It is impossible not to be astonished by India. Nowhere on the face of Earth does humanity present itself in such a dizzying, creative burst of cultures and religions, races and tongues. Enriched by successive waves of migration and marauders from distant lands, every one of them left an indelible imprint which was absorbed into the Indian way of life. Every aspect of the country presents itself on a massive, exaggerated scale, worthy in comparison only to the superlative mountains that overshadow it. It is this variety which provides a breathtaking ensemble for experiences that is uniquely Indian. Perhaps the only thing more difficult than to be indifferent to India would be to describe or understand India completely. There are perhaps very few nations in the world with the enormous variety that India has to offer. Modern day India represents the largest democracy in the world with a seamless picture of unity in diversity unparalleled anywhere else.
As rightly said by Mark Twain, “India is, the cradle of the human race, the birthplace of human speech, the mother of history, the grandmother of legend, and the great grand mother of tradition. Our most valuable and most instructive materials in the history of man are treasured up in India only”.
