Comparing India, China Growth Rates Futile: Chinese Daily

The huge difference between India and China in their contribution to the global industrial chain was also cited to stress that the comparison of their economic growth rates was futile.

"India can stress that its system has provided good conditions for its innovation and development. But more significant factors to promote development lie in whether a country could improve its status and raise its share in the global industrial chain."

The report suggested that it was impossible to develop large-scale sophisticated projects on a weak infrastructural foundation.

"The foundations of innovation require not only a system, but also industries, talent and the drive to pursue higher profit," it said.

It went on to say that the focus of both and India and China should be on enhancing cooperation and finding ways to complement each other economically.

"China's development experience shows that once the growth rate of a big developing country with a large population, a wide range of industries and a solid foundation of development starts accelerating, it is bound to create more opportunities for its neighbours and the world to share its economic achievements.

"The rule also applies to India. India's accelerating economic growth depends on its open trading system and vice versa. Only by sharing profits with neighbouring countries, including China, can India sustain its economic growth rate. After all, under the background of globalisation, no one can notch up rapid development with a closed door anymore."

The report said that if India could leverage China's dominant position in the manufacturing industry, with its own labour cost advantages, it could create more jobs and raise the role of manufacturing in its own economy.

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