COMPARISON BETWEEN ECONOMY OF

INDIA AND CHINA

D.Siva Prasad

Economy
Particulars Economic rank by GDP Economic rank by ppp India 9th largest 3rd China 2nd largest 2nd

Currency
Fiscal year GDP GDP GROWTH GDP BY SECTOR

Indian rupee paise 1$ =Rs 51.17

1ST APRIL -31ST MARCH $ 1.846 TRILLION 7.5% (2011) agriculture: 18.1%, industry: 26.3%, services: 55.6% 6.95%

yuan-renminbi 1$ =6.3039 Rmb

1ST JANUARY -31ST DECEMBER $ 7.43 TRILLION 9.5 % (2011) industry (46.8%), services (43.6%), agriculture (9.6%) 5.4%

INFLATION

PARTICULARS Labour force by occupation EXPORTS MAIN EXPORT PARTNERS

INDIA agriculture: 52% industry: 14% services: 34% US$298.2 billion (2011 est.) US 12.6%, UAE 12.2%, China 8.1%, Hong Kong 4.1% US $451 billion BBB- (Domestic) BBB- (Foreign) $292.7 billion

CHINA agriculture (39.5%), industry (27.2%), services (33.2%) US$1.897 trillion (2011) US 20.03%, Hong Kong 12.03%, Japan 8.32%, South Korea 4.55%, Germany 4.27% US$1.664 trillion (2011) AA- (Domestic) AA- (Foreign) $3.20 trillion

IMPORTS CREDIT RATING

FOREIGN RESERVES

NATIOANL FLAG

NATIONAL EMBLEM

PRIME MINISTER

DEMOGRAPHICS
PARTICULARS Population INDIA 1,189,172,906 (July 2011 est.) 0-14 years: 29.7% 15-64 years: 64.9% 65 years and over: 5.5% CHINA 1,336,718,015

Age structure

0-14 years: 17.6% 15-64 years: 73.6% 65 years and over: 8.9%

Urbanization

urban population: 30%

urban population: 47%

total population: 92.2% male: 96% female: 88.5%

Literacy total population: 61% (age 15 and over can read male: 73.4% and write) female: 47.8%

Religions

Hindu 80.5%, Muslim 13.4%, Christian 2.3%, Sikh 1.9%, other 1.8%, unspecified 0.1%

Han Chinese 91.5% Tibetan, Buyi, Dong, Yao, Korean, and other nationalities 8.5% .

particulars Population growth rate

India 1.55%

china 0.63% 21%

Total population in global 17.5% terms

Amount of arable land (sq.km.in millions)

1.45

0.64
3180

Per capita income in us$ 1032

Imports & exports

China top5 exports to India

Aluminum Electrical machinery Fertilizers Impregnated text fabrics Iron & steel and its products.

Chinas top 5 imports from India

Artificial flowers and feathers Copper Cotton ,yarn and fabric Electrical machinery Fish ,sea food

Tax structure
Tax Corporate income tax Education surcharge Business turn over tax Wealth tax VAT GST India 30.9 to 42.3 % 2-3% Nil 1% 12.5% 16% China 25% nil 5% nil 17% NIL

Agriculture in India

India ranks second worldwide in farm output. Agriculture and allied sectors like forestry and fisheries accounted for 16.6% of the GDP in 2009, about 50% of the total workforce. India had grown to become the world's largest producer of the following agricultural produce: Lemons Jute Beeswax Bananas Mangoes, Papayas Chillies and peppers guavas, Buffalo milk, Goat milk. Castor oil seed and Safflower seed

India is the world's second largest producer of the following agricultural produce: Wheat ,Rice, Vegetables fresh, Sugar cane Groundnut, Lentils, Garlic Cashew nuts, Cow milk, whole, fresh Tea ,Potatoes, Onions, Silk-worm cocoons

India is the world's third largest producer of eggs, oranges, coconuts, tomatoes, peas and beans.

India is also one the world's five largest producers of livestock and poultry meat. Aquaculture and catch fishery is amongst the fastest growing industries in India India is the world's sixth largest producer of marine and freshwater capture fisheries, and the second largest aquaculture farmed fish producer. Slow agricultural growth Current agricultural practices are neither economically nor environmentally sustainable. India's yields for many agricultural commodities are low. Poorly maintained irrigation systems . Farmers' access to markets is hampered by poor roads, rudimentary market infrastructure, and excessive regulation.

Problems of Indian agriculture sector

AGRICULTURE in China

China is the world's largest producer and consumer of agricultural products

Agriculture is an important economic sector of China, employing over 300 million farmers. China ranks first in worldwide farm output, primarily producing rice, wheat, potatoes, peanuts, tea, millet, barley, cotton, oilseed, pork, and fish. Major non-food crops, including cotton, other fibers, and oilseeds. Agricultural exports, such as vegetables and fruits, fish and shellfish, grain and meat products, are exported to Hong Kong.

Yields are high because of intensive cultivation.( high inputs of capital, labour, chemical fertilizers)
Animal husbandry constitutes the second most important component of agricultural production.

China is the world's leading producer of pigs, chickens, and eggs, and it also has sizable herds of sheep and cattle. China has a long tradition of ocean and freshwater fishing and of aquaculture. Western china floriculture and cattle raising Southern china Rice (two harvests in a year) North china - wheat Central china - rice & wheat. Soya bean north &north east Corn -centre & north Tea -hilly areas of south Tobacco -centre and parts of south Cotton - central china.

Problems of agriculture sector

There is still a relative lack of agricultural machinery, particularly advanced machinery ,still depends on simple and non mechanized farming equipments. Good at water conservency.