Competitive situation with China to harm India more: Chinese daily

India is set to grow at 7.4% this year as per IMF but still that won't be enough to outpace China, the Global times, a leading daily in Beijing, said on Wednesday.

Refering to Prime miniser Narendra Modi's statement in Davos that India is capable of creating a 5 trillion dollar economy by 2025, Global Times editor, Hu Xijin, said thegoal will surely excite the Indian society, adding that India's rapid economic growth follows the same logic as China's growth and that the country boasts growth potential and harbours a long-time ambition to surpass China.

However he added, "I want to remind Indians that Chinese and Indian growth rates only differ slightly so far. There is no evidence that India's economic growth will surpass China's in the long term. More importantly, China's GDP is over four times than that of India. The projected growth rate for China and India this year is 6.6% and 7.4% (respectively). The absolute increment of China's economy will be far more than India's. This means that the total economic output between the two nations will continue to widen."


The Global Times editor further added that the actual annual economic increment in China has long surpassed that of US. The economic gap between China and the US narrows every year while the gap between China and India gradually widens.

He also warned that "a competitive situation between China and India is not beneficial to India".

"This is a point that Indians should understand."

Currently, China boasts an economy of $12.250 trillion compared to India's $2.439 trillion.