India needs new economic reforms to match China's competence.
India and China are one of the largest countries in terms of economy and land size. India got independence in 1947 and whereas China got autonomy in 1949, then what made China move ahead of India ?
The Indian freedom struggle and Chinese revolution are both poles apart. Both have adopted different styles of government structures, where India wanted a democratic system in which the people's mandate was important, whereas China wanted centralised government control.
Reasons why India is Behind China ?
* India follows a democratic system where every 5 years we have elections to choose the representative. It takes a lot of time and effort to conduct the procedures for elections. At least 6 months of procedures and all the development activities are stopped before the elections, which are eventually delayed. The constant change of governments creates large scale delays in governance and development.
* China opened its markets in the early 1970s, like India in the 1990s, it created a big gap in developments. India focused majorly on tech and software, but China focused on manufacturing and tech.
* Having a constant government for a long time improves decision-making and quickness in development, but when you have democratic systems and rigid bureaucracy, it creates hurdles to implement policies on the ground.
Wars and diversions faced historically after independence by india, it also goes through massive protests and economic fluctuations more than China.
* Research and development brings innovations and creates new knowledge. China spends almost 2.39 trillion dollars whereas India spends 188 billion dollars on R&D.
* China exclusively focused on manufacturing and exports compared to India. The dependency on Chinese goods across the globe is significant.
* India is dependent on western countries and China is independent. It has its own social media platforms like Youku for YouTube. Instead of Facebook, they use WeChat. It has built its own mechanism and tools which they export to other nations.
* China has a 19 trillion economy whereas India has a 4 trillion economy.
India has to significantly adopt strict and stringent rules and increase its manufacturing capacity on an extremely large scale. Reduction of dependency and focus on more innovation and imports would cause significant improvement in the economy. Implementation of a one nation, one election will help focus more on development rather than elections. All the places which require huge time and effort should be invested only in economic power. The vision Viksit Bharat 2047 should have major reforms in empowerment and growth rather than be dependent and hindrance.
