What are major differences between Indian and China economies?

As per both method, India was richer than China in 1990. Now in 2019, China is almost 4.61 times richer than India in nominal method and 2.30 times richer in ppp method. Per capita rank of China and India is 72th and 145th, resp, in nominal. Per capita rank of China and India is 75th and 126th, resp, in ppp.

Is China a consumption based economy?

Consumption does not yet play as large a role in China’s economy as in most developed countries (consumption is about 56\% of China’s GDP, compared to an OECD average of 73\%, according to World Bank data). But this transformation toward a domestic demand-driven economy is well underway and will continue.

What is Indian economy is mainly depend on?

Agricultural Sector: One of the most important sectors of the Indian economy remains Agriculture. Its share in the GDP of the country has declined and is currently at 14\%. However, more than 50\% of the total population of the country is still dependent on agriculture.

What is the difference between India and China Population?

In 2019, India had an estimated population of 1.37 billion and China 1.43 billion, according to the UN figures.

How does India compare to China?

China is about 2.9 times bigger than India. India is approximately 3,287,263 sq km, while China is approximately 9,596,960 sq km, making China 192\% larger than India. Meanwhile, the population of India is ~1.3 billion people (67.9 million more people live in China).

How is China’s consumption?

Consumption, which measures the final purchase of goods and services by households, accounts for more than half of China’s gross domestic product (GDP) and its share continues to increase. In developed economies, consumption as a share of GDP hovers around 70 to 80 per cent.

Which type of economy is Indian economy?

mixed economy
Today, India is considered a mixed economy: the private and public sectors co-exist and the country leverages international trade.