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India And China Strengths
Comparing India and China is a exercise equally loved and hated by people of both the countries. While we have seen the strategies which China followed to progress at the breakneck speed, based on our understanding of the Indian democracy and its constraints, following are our recommendations of few of the strategies Indian government can look at to accelerate India’s growth. Banking on Strengths: Indian service sector, has grown at commendable pace, and it continuing to grow, providing better lifestyle and employment to the youth, hence it is quite logical that India provides boost to this sector. Following are the few points that ake India great destination for service sector industries. – Knowledgeable young workers – SEZ are favorable for it. – English is more common and proficient here and it is needed for service sector. – Less investment than manufacturing, and provides better paying job and better lifestyle. China has close to 93% literacy, whereas India lags behind at mere 60%, more efforts to educate the Indian masses is imminent. However Indian educational institutions like IIT, and IIM are respected world-over unlike their Chinese counterpart. Hence Inida needs to ensure that it continues the tradition of education with quality. – Increase the number of educational institutions, and maintain their quality, as Indian institutions quality is respected world-over as against Chinese. Improve literacy with quality. – Also India needs to start vocational training institute, as a majority of Indian population faces unemployment in spite of education. – India has 970,000 schools, China has 1,800,000. – India has 372 universities, China has 900 & Japan has 4000. • Indian companies are much more environment friendly, hence Indin should develop focused program to utilize the new issues like Carbon credit which will help India in growth and in gaining better standing internationally. • Special Economic Zone, are a key to growth and development in both India and China. However Indian SEZ offer better tax structure than Chinese SEZ, and specially for service industries which are not looked at favorably in China, hence promoting our SEZ is essential. • Chna has grown enormously but the growth has been funded by FDI and foreign companies who have set up their units in China to exploit the low labout rates. Rest of the development in China has been fuelled by the government, this makes their growth very unreliable. Whereas inIndia there are numerous entrepreuners, who have created business like Infosys, encouraging Indian entrepreneurship, which is nil in china, will aid India’s growth story.. • Chinese nationals have been remitting vast amount of wealth back to China, this has helped thwier economy to grow. In India there are many success stories like Tata’s and Birla’s who not only are bringing back wealth to India but also generating employement. Hence Indian government should strive to provide better infrastructure to private enterprise so that they can grow and compete with global giants. • Farming provides employement to • 60% of Indian are employed in farming, and it contributes almost 20% to GDP, in such a case giving subsidy to this sector burdens the country’s growth. We need to ensure that our population finds better employment and this 60% is reduced down to 5-10%, then 90% population can easily subsidize 10% population instead of current 40% subsidizing 60%. • More focus on farming and modernizing and mechanizing it. • Improve land productivity: Food grain production in China is about 410 million tons v/s 206 tons in India, although the cultivable land is half. • Improve efficiencies: 60 million tons of food grains in FCI godowns which cost Rs. 15000 cr./year to maintain. People in extreme poverty, do not have access to this food, although nearly 10% is wasted or destroyed due to bad storage. Cost overrun of Centre and state projects is about Rs 40,000 to 80,000 crores per year • Corruption is a major problem in India, but we cant expect it to improve unless we remove the protection offered to central and state government employees. This protection from job loss under any circumstance makes the employees inefficient. • China is hosting Olympic (2008) and world fair (2010), and for the preparation of both these events large amount of its resources have been diverted towards irpovinf infrastructurea and bulidng new hotels etc. This has and will continue to slowdown the Chinese growth rate. This is the time that India can exploit to its advantage, and pull up our socks and gear up to take advantage of the economic slowdown which China is facing. • Continue with democracy as it helps build stable growth. China forces stability and development top-down, whereas in India it is bottom up, where everybody participates in the growth. Article Directory: http://www.articledashboard.com We provide SEO Training in Mumbai and Services SEO Complaints SEO Services india Online Marketing Consumer Complaints |
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