India vs Pakistan: A tale of two economies
NEW DELHI: India and Pakistan — two of the biggest South Asian nations — started their economic journey around the same time after gaining Independence. Not many know that there was a point in the 1960s when Pakistan's per capita GDP used to be higher than that of India's. However, over the years, India has not only surpassed Pakistan's per capita GDP but taken a commanding lead on almost every economic front.
Pakistan today is facing global criticism for failing to rein in homegrown terror groups even as it grapples with an ailing economy and mounting global de t. India, on the other hand, has become a global frontrunner which recently surpassed the UK to become the fifth largest economy in the world. The stark economic contrast between the the two neighbours shows that Pakistan's unstable go nment, conflicting power centres, covert support to terror groups, and involvement in global terror strikes such as the 26/11 Mumbai attacks, have bled its economy.
Here's a look at the economic performance of the two nations:
* India is today the fastest growing trillion-dollar economy in the world and the fifth largest overall, according to data compiled by IMF's World Economic Outlook. It jumped from the 9th spot in 2010 to the 5th spot in a span of just nine years. the GDP of India is almost 10 times that of Pakistan, which is placed at the 45th position.
* India's rise has been even more drtic across the past couple of years. Since 2008, its GDP has risen almost 140 per cent as ag inst an increase of about 63 per cent for Pakistan.
* According to World Bank estimates, in 2019, India's GDP (current $ terms) was $2.875 trillion while that of Pakistan was $278.22 billion.
* In terms of purchasing power parity, India ranks third globally with a GDP of $9.612 trillion in 2019 while Pakistan is at 24th spot with GDP of $1.058 trillion.
* In World Bank's ease of doing business ranking 2020, Pakistan stands at 108 position while India is placed higher at th 63rd spot.
* India’s post-independence journey began as an agrarian nation. However, the manufacturing and services sector have emerged strongly over the years. The service sector is the fastest-growing sector, contributing to more than 60 per cent to its economy and accounting for 28 per cent of the employment. Manufacturing remains as one of its crucial sectors and is being given due push via the go nments' initiatives, such as 'Make in India'.
this is no match...ideally they should not have wasted their energy in finding this comparison in the first place..we should compete will , Brazil not rogue state like Pakistan
What to compare India with the God Forsaken nation Pakistan. Better we draw a comparison with or Americans.
The GDP per capita of the Hindi Heartland is still lower than that of Pakistan.
First of all this comparison irrelevent ,it should be India vs and Pakistan vs somalia.
India should compare its economy with and not Pakistan a failed State
well compiled article, nice to read.... but there is no need to compare India with a failed state...
Bangladesh is doing better than India. BJP has ruined the growing economy. Now India is running the country with loans from funded banks.
How is Pakistan is biggest country with four province. And why compete with India.india is multicultural,wel deciplined,democatic and great in the world.
This is ridiculous&even stupid to be comparing with a FAILED NATION next door called Pakistan
This article is like comparing your child with the most underperforming student in the school. High time we raise our standards of comparisons
This shows that the Pakistan's policy of bleeding India by thousand wounds has not worked. However, I do not see that it has learned any lessons from the results. If they continue on this path, Pakistan will go bankrupt. They already owe so much to , that they may have to give up some territory to pay back the loan. is always interested in expanding its borders.
Which fool compares India with Pakistan- a non starter in the first place. It is like comparing Modi to Pappu.
Modi is worse than Pappu.
Actually as per World Bank Report, the neighbouring countries Nepal, Bangladesh, Pakistan and others are economical better than India as they grow faster than India.
The Chna-Pakistan as is the watershed of security and peace of the region.
There is no comparison between Indian and Pakistan economy.
Only Maharashtra can be comparable with Pakistan.