Too Soon To Hype India's Growth Story: Chinese Think Tank

BEIJING: Notwithstanding reports stating that India's GDP will surpass that of China in the coming years, a state-run Chinese think tank today said it is "too early" to hype India's growth rate as it is still facing obstacles.

"The substantial quantities of reports over whether India's growth rate will overtake that of China and make it the world's fastest-growing large economy have reflected a wide confidence in its economy," said an article by Zhao Gancheng, director of South Asia Studies at the Shanghai Institute for International Studies, published in the state- run Global Times.

India believes that it has already bailed its economy out of its slump, thus its forecasts are generally optimistic. Such optimism is not solely limited to India, but shared by both the IMF and the World Bank, the article said.

"Yet whether such predictions are inflated remains unexplained and difficult to verify," it said.

The article came even as the World Bank figures projected that India's GDP may officially surpass that of China as it is for the first time leading major emerging economies in growth chart.

"There is no point in the constant comparison of the Indian and Chinese economies. They are simply not comparable with each other," the article said.
Read Also:
Loan To Sugar Industry Will Not Address Problem
Chinese Realty Major Looks To Invest U.S. $5 Billion In India