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Wu Yuenong: Characteristics of Indian Economy and Reflections on Sino-Indian Economic and Trade Relations
Release time: 2022-03-02   Author: Wu Yuenong

In recent years, India's economy has grown strongly. PwC estimates that India will become the world's top five economies by 2050. Firstly, this paper analyzes the main characteristics of Indian economy, including that the tertiary industry accounts for more than half of the economy, a high proportion of software services, the main manufacturing industry is dominated by OEM and counterfeiting, enterprises rely on a large population base, abundant young labor force, huge investment and consumption potential, good compatibility with the markets of the East and the West, and great expectations from the United States and Europe. Then, it analyzes the economic and trade relations between China and India through data. Finally, it puts forward that further strengthening economy and trade between China and India is not only in line with the interests of the peoples and business circles of both countries, but also conducive to the economic development of Asia and the world, and provides four practical suggestions.