In its latest Asian Development Outlook, the Asian Development Bank forecast that India’s GDP would grow by 7.8 percent in the 2015-16 fiscal year, overtaking that of China. What will be the result of the “dragon and elephant rivalry” between China and India? Akshay Mathur (M), director of research at Gateway House, a policy think tank based in Mumbai, India talked to Global Times reporter Song Shengxia (GT) recently in an interview in Beijing to share his views on a broad range of issues regarding the bilateral economic relationship and economic planning.
GT: How do you view what the Western world terms “the dragon and elephant rivalry” between China and India? Some economists believe India will eventually replace China as the engine of the global economy. What’s your comment on this?
M: Yes it is true that India’s growth has probably already exceeded that of China. It is probably true that India will become the fastest-growing country in the world.
The problem with India and China is that both countries need to reframe their economic development.
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