#Thread on Understanding Indian economy V/S Chinese economy.

We are at war with china and this might shock you that in 1990, the per capita income of China was $318, while that of India’s was slightly greater at $368.

@ARanganathan72
@RajivMessage

But, unfortunately we fail to maintain it and the gap is growing up, day by day.

At present, the Indian economy is passing through a tough time. But it is expected that our economy will recover from this slowdown very soon.

On the one hand India is the fastest-growing trillion-dollar economy in the world and the fifth-largest overall, with a nominal GDP of $2.94 trillion. On the other hand we are lagging behind in manufacturing sector with a huge margin.

However, China’s economy took off in the 1990s, They emerged as the outsourcing paradise for manufacturing for large parts of the western world, allowing companies to drastically cut costs and right now they are 2nd largest economy with Nominal GDP of $14.14 trillion.

Now, think their population is more than India, but in just 30 years they are 5 times of india.

Why it happened ?

1. Poor governance- India had seen unstable govt. and dirty fights for power for decades after the independence. Ministers failed to have a vision over our economy.

2. Corruption- Corruption was in the every inch of our politicians. India fail to give a corruption free system till 2014.
3. Wars- India was largely involved in wars, such as indo pak, indo china etc. Also, internal riots were largely in place.

4. No road map- we didn’t have any road map. We have always followed a policy of doing things as per the situation and not as per the dedication
5. Relation with USA- India’s relation with USA in 90s was very bad. However china’s relations with USA started improving in early 90s.

Lets understand indian economy first.

Indian Economy is classified into three major sector-

Agriculture & Allied Sector: This sector is also known as the primary sector of the economy. it includes forestry and fishing also. it Near about 53% of indian population is involved in

this sector however contributes only 17% of Indian GDP at current prices.

2.. Industry Sector: This sector includes 'Mining & quarrying', Manufacturing (Registered & Unregistered), Gas, Electricity, Construction, and Water supply. This is also known as the secondary

sector of the economy. Currently, it is contributing around 29.6 % of the Indian GDP (at current prices) in 2018-19.

3. Services Sector: Services sector includes 'Financial, real estate & professional services, Public Administration, defence and other services, trade, hotels,

transport, communication and services related to broadcasting. This sector is also known as the tertiary sector of the economy. Currently, this sector is the backbone of the Indian economy and contributing around 54.3% of the Indian GDP in 2018-19.

How can we lead in economy?

1. Changing mindset and making india a manufacturing hub- Bihar give us maximum no. Of bureaucrats but it is one one of the most poor state of india, why? Because of a mindset. Youth want personal fame. They are not at all interested in manufacturing. Most of the youth

want government job so that they can marry a beautiful girl and take dowry in crores and parent will get to say, “ Mera beta IAS hai”. And girls, most of them appear in the examination just to prove the society that they can crack it and they are no less than boys (Exceptions are

always there). This is the place where china defeat us. They believe in providing jobs rather than doing jobs. We need to change this mindset, if we want to give a major boost to your economy. We can manufacture hardwares, arms, auto-mobile parts etc.

After that we can outsource the various foreign projects.
2. Revolutionising the agriculture sector- We still are doing agriculture using old methods. We still are dependent on weather for the good crop growth. Farmers are still not getting the actual price for their crops.

Yes, govt. has launched blue revolution, which is a good step, but it is not sufficient. Its high time, we must use hi tech machines and skilled farming need to be promoted.
3. Boosting tourism- Indian stand at 34th position in terms of tourism.

And trust me india can stand at number one on this. We are country with diversities. We have hills, mountains, beaches, temples, festivals, lakes, ancient monuments excellent climate conditions and spirituality. We are a country having a history of more than 5000 years.

What else we want apart from one time huge investment to renovate places like Hampi, kailash temple, konark temple etc and after it can feed us for decades with very low maintenance cost.
4. Creating our own social media and collecting data. Data is the new oil. Read this-

5. Privatising govt companies- Recently govt. has privatised ISRO, which means now private companies can contribute to ISRO in developing satellite and rockets and their parts. Now anyone among us can open companies like Space-X, which is really cool.

It will not only boost our economy but it will also improve the quality, technology and will save a lot of time. This is the excellent move from the government.
6. COVID 19 situation- It has make a difficult situation but it can be an opportunity for us.

See china has given huge amount of loans to many small countries. Now due to COVID situation they are unable to repay it. In this case, india should come ahead aggressively and provide them loan at very low rates. It will result-

a) stop china to spread its loan web
b) it will gain trust of these countries which will increase the trade relation
c) low interest rate is also a profit.

7. Making congress mukt bharat- I’m sorry to say this but it is important to make them disappear from the politics.

Congress is responsible for not letting india grow. They are corrupt, they fill their own pockets. They have relations with china, russia, italy etc. May be you dont like bjp ideology. Its Fine, create your own party and fight elections but let india grow