Brussels: Angelos Delivorias, a policy expert at European Parliamentary Research (EPRS), has forecasted that India will continue outpacing China in terms of GDP growth for the foreseeable future.
Delivorias shared his insights in an interview conducted by EPRS, focusing on the ascent of India, its significance, and the implications for the EU. EPRS, renowned for providing extensive research and analytical support to Members of the European Parliament, served as the platform for Delivorias’ remarks.
“India has surpassed the growth rate of China, and experts think that it will continue doing so, at least in the short term,” Delivorias was quoted by ANI.
Highlighting India’s demographic advantage, Delivorias emphasized the contribution of its comparatively youthful population to economic growth, contrasting it with China’s aging populace.
Economic Perspective, Fact, and GDP Growth
“From the economic perspective, the fact that India is the largest population on the planet, but also its population is younger, if we see the demographic pyramid of India, we see that it’s younger than China’s, implies that it has more people in the labour market and it has less expenditures in the health sectors or for pensions, which means it can keep growing its GDP in the next few years,” he elaborated.
Notably, India’s GDP growth averaged over 7.5 per cent in 2023, whereas China’s stood at 5.2 per cent. Projections indicate India’s GDP growth rate reaching 7 per cent by 2026, while China’s is anticipated to reach 4.6 per cent. The IMF forecasts China’s growth to decline from 4.6 per cent in 2024 to around 3.5 per cent by 2028.
Delivorias also commended the ongoing initiatives aimed at bolstering India’s economic trajectory, particularly citing investments in infrastructure.
“And apart from high GDP growth, India has done significant investments in national infrastructure projects to sustain that economic growth. It takes part in international infrastructure projects and last year we even see that it has a complete space programme. It landed on the moon. So it has a comprehensive economic strategy in that respect,” the expert remarked.
He further underscored India’s expanding diplomatic footprint as a strategic imperative, especially in light of evolving geopolitical dynamics in the Indo-Pacific region.
With Delivorias’ insights, it becomes increasingly evident that India’s economic ascendancy is set to redefine global economic landscapes, with the country poised to maintain its lead over China in GDP growth for the foreseeable future.
