India to continue surpassing China's GDP growth rate for next few years, claims European expert

India's GDP growth rate is expected to reach 7 per cent by 2026, while China's GDP growth rate is expected to reach 4.6 per cent.

Published on: Apr 8, 2024, 23:03:50 IST

By HT News Desk

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Angelos Delivorias, a policy expert at European Parliamentary Research (EPRS), has predicted that India's GDP growth rate would continue to be better than that of China for the next few years.

He made the remarks in an interview by EPRS on the rise of 'India, why it matters, and what this means for the EU.' EPRS provides comprehensive research and analytical support to the Members of the European Parliament.

"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 as saying.

Delivorias highlighted that India's growth would be fuelled by its comparatively younger population as compared to that of China.

"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 added.

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Notably, India's GDP growth averaged over 7.5 per cent in 2023, while China's was 5.2 per cent. India's GDP growth rate is expected to reach 7 per cent by 2026, while China's GDP growth rate is expected to reach 4.6 per cent. The IMF projects China's 2024 growth at 4.6 per cent, declining towards 3.5 per cent in 2028.

Delivorias also talked about the initiatives being taken today which will help sustain India's economic growth. He hailed India's infrastructure investments.

"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 said.

"India has increased its diplomatic importance as part of its strategy over the last decade. Its prominence grows in the Indo-Pacific region due to current geopolitical evolutions," Delivorias noted.

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