FAST EMERGING ECONOMIC POWER HOUSES

Every where you turn around the industry and with the economist, the talk is about the two fast growing economies that is INDIA and CHINA.

I am doing my masters in manufacturing engineering and management so in my course I have to study both engineering and business subject. All the professors use to talk about the economies of India and China. So I have to post it on this concern.

It seems that all the development in Europe and United states have stopped and all the focus is shifted to these two Asian countries.

So, which country is going to win the race first probably China as it has started its race first. But we cannot under estimate India as its economy growing very rapidly.

Till now Indian tiger is lagging behind and trailing with Chinese dragons.

But China is also been growing at faster rate with 9-10 % annually. China has good infrastructure and large economy when compared to India. China has many manufacturing industries.

china has adopted to globalisation and it has an open market with direct investment. It has cheap labour than India.

India too has few advantages which cannot be neglected. The important one is its democracy, in which china is lagging behind. India is looking into outsourcing industry and IT industry which earns lot of profit than the manufacturing industry. With most of the population being good at English, is another advantage.

India is making achievement in all the fields for sustaining its economy. It is developing world class infrastructure in all the fields.

India need to open its market more for direct investment by foreign investors.

China has well connected roadways but in India its just under development stage.India's another major problem is power, but China has no problem with power.

Doing business in India far more easier to do it China.

India may be chasing China like an rival but India need to develop in many areas for being in race of rapid development.

India need to adopt a quick change in its policies and in its infrastructure.

Only change can make difference.