Economic Growth in India

The Economic Outlook for Southeast Asia, China and India is a bi-annual publication on regional economic growth, development and regional integration in Emerging Asia. It focuses on the economic conditions of Association of Southeast Asian Nations (ASEAN) member countries: Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Viet Nam. It also addresses relevant economic issues in China and India to fully reflect economic developments in the region.
The Outlook comprises four main parts, each highlighting a particular dimension of recent economic developments in the region. The first part presents the regional economic monitor, depicting the economic outlook and macroeconomic challenges in the region. The second part consists of a special thematic chapter addressing a major issue facing the region. The 2019 edition of the Outlook looks at smart cities, with a special focus on transportation. Addressing traffic congestion, in particular, is critical in realising the potential benefits of urbanisation for growth. The third part of the report includes structural country notes offering specific recommendations for each country, and the fourth part discusses the recent progress made in key aspects of regional integration.

This report sheds light on one of the fastest growing economies in the world - India. By 2030, India will see a tremendous jump in consumer spending driven by increased incomes, a billion diverse internet users and a very young population. The new Indian consumer will be more affluent, and more willing to spend but will have more evolved preferences and aspirations than consumers of the past. The ‘Urban vs. Rural’ paradigm of the past may not hold as firm in future. Moreover, specific key societal challenges will have to be overcome to ensure a positive future of consumption for all. The report builds on in-depth consumer surveys conducted across 5,100 households in 30 cities and town in India and draws from over 40 in-depth interviews with private and public-sector leaders. It lays out seven critical predictions on a vision for consumption in India in 2030 and lays out a call-to-action for multi-stakeholder collaborations to build an inclusive future for India.

China and India, the world's two most populous countries, will exercise increasing influence in international affairs in the coming decades, and each country's role on the world stage will be affected by the progress that it makes and by the competition and cooperation that develop between them. This monograph focuses on the progress China and India seem likely to achieve from 2010 through 2025 in four domains: demography, macroeconomics, science and technology, and defense spending and procurement. In each domain, the authors seek answers to these questions: Who is ahead? By how much? and Why? The authors find that India has distinct advantages over China in terms of demographics; that the two countries are surprisingly close in terms of forecasted economic growth, although China's overall economic output is likely to remain significantly higher than India's; and that, for both science and technology and defense spending and procurement, China's current substantial margins over India are likely to rise but by amounts that will vary widely depending on several alternative scenarios. The monograph concludes with implications for policy and for further research.