what is difference between economies of india and china????

Answer 1

Since 1978 the People's Republic of China (PRC) government has been reforming its economy from a Soviet-style centrally planned economy to a more market-oriented economy but still within the political framework, provided by the Communist Party of China. This system has been called "Socialism with Chinese characteristics" and is one type of mixed economy. These reforms started since 1978 has helped lift millions of people out of poverty, bringing the poverty rate down from 53% of population in 1981 to 8% by 2001.
India followed a socialist-inspired approach for most of its independent history, with strict government control over private sector participation, foreign trade, and foreign direct investment. However, since the early 1990s, India has gradually opened up its markets through economic reforms by reducing government controls on foreign trade and investment. The privatisation of publicly owned industries and the opening up of certain sectors to private and foreign interests has proceeded slowly amid political debate.

India faces a burgeoning population and the challenge of reducing economic and social inequality. Poverty remains a serious problem, although it has declined significantly since independence, mainly due to the green revolution and economic reforms.

Answer 2

India's economy lags behind China's

Some industries like Tractor making , etc, represent the areas in which India enjoys an edge over its Chinese counterparts, and New Delhi expects to pull off business deals of benefit to India.

The comparison
Comparing the Indian economy with the Chinese economy has become almost a pastime for many analysts. A majority of these economic analysts have come to the conclusion that as of the year 2003, China is well ahead of India. As The Economist of London titled its recent cover story on the subject: "India V China: A Tiger, Falling Behind a Dragon."

China's relative success over India in attracting foreign direct investment (FDI) was what tipped the balance for The Economist, although the article points out that China's figures are "inflated by 'round-tripping' of domestic investment through Hong Kong". At the same time, The Economist notes, some Indian economists claim that India's FDI figures are understated, because "they exclude foreigners' reinvested profits, the proceeds of foreign stock market listings, intra-company loans, trade credits, financial leases, and so on".

Answer 3

http://en.wikipedia.org/wiki/Economy_of_India/ vs http://en.wikipedia.org/wiki/Economy_of_the_People's_Republic_of_China/
OR try
http://encarta.msn.com/encnet/refpages/search.aspx?q=economy+of+india&Submit2=Go
VS http://encarta.msn.com/encnet/refpages/search.aspx?q=economy+of+china&Submit2=Go

Answer 4

INDIA is the most corrupt nation & china can not afford to be corrupt.
Every decision in INDIA is political {including RESERVATION} & for CREAMY LAYER, BUT in china decisions r taken on merit in NATIONAL INTERESTS.

Answer 5

too difficult question