Comparative Analysis of India and China’s Economic Development: Strategies and Sustainability

Scholarship Sewanee 2024 , University of the South , India , China , Economic Development , Economics , Politics , International & Global Studies
Examining the remarkable economic growth of China and India, this presentation explores their transformative journeys from planned to market-oriented economies. Both nations play pivotal roles in shaping global trade, influencing geopolitics, and driving innovation. The research delves into the distinct economic growth strategies of both nations, analyzing the factors contributing to their success and the challenges hindering sustained growth. I argue that policy, trade, investment, and infrastructure have played pivotal roles in their economic development, but unique challenges such as income inequality, environmental sustainability, political reforms, and demographic shifts pose obstacles to continued growth. Employing a multidisciplinary approach, the study draws insights from history, economics, and political science, guided by theoretical frameworks including Globalization Theory, Developmental State Theory, and Structural Transformation Theory. These frameworks provide a lens to analyze the interconnections between globalization, state-led development, and the structural transformations influencing the economic growth trajectories of China and India. The presentation aims to contribute a nuanced understanding of the challenges and opportunities faced by these nations on the global stage, offering valuable insights into their economic growth trajectories.