Can the Indian economy overtake China and the US?
Rahul Raviprasad, Top Writer at Quora (2018-present)
Answered Sep 16
Can it happen? - Anything can happen.
How likely it is to be concerned about it?
It’s not possible for a long time even with very high GDP growths of say 15–20% (like 10+ years), keeping inflation in check
There are a lot of structural and economic reforms needed.
There are a lot of changes possible in the future and dynamics change to comment on it, like wars, changes in global politics
China and US can also transform or have another breakthrough and move forward faster, making it difficult to overtake.
I think there is a lot of work that needs to be done and lots of improvement and structural reforms we should be worrying about.
after 50 years may be yes.
Jagabandhu Mishra, former Chief Conservator of Forests. at Government of India (1985-2012)
It is not possible in future. We do not have mineral resources and oil resources like USA and China. Our problem is we are dependent on import of crude oil, natural gas and gold. Even we import coking coal for steel and alloys production. Indian economy is affected by fluctuation in Rupee value and price of crude oil. It is better to have bio fuel and electric vehicles to counter the use of price rise of crude oil. The export of India need to be increased every year. The present weak Rupee may help the export sector of India. We may get scope in USA for export of steel, alluminium and engineering goods. We may also get chance to export more food products to other countries. We may have to explore the Bay of Bengal for oil and gas reserve. We may have to explore the Ganga valley and Manipur for oil and gas. If we can discover some oil deposits we may save foreign exchange. Another area is exploration for Gold deposits. The old workings of Gold may have to started again for domestic production of Gold. All these steps may help the economy of India. No need to compete with USA or China. We have our strength and weakness to grow in the world.