German Chancellor Angela Merkel and Indian Prime Minister Narendra Modi drink tea at the 2015 Hannover trade fair in Germany; this year, India was the fair’s partner country. (photo: dpa)

India: set to grow faster than China but needs to stimulate internal investment

Over the past seven years, India has quietly added a second trillion dollars to its Gross Domestic Product. Its growth rate is beginning to exceed China’s. To maintain fast expansion, however, India’s political and business leaders need structural reforms to revive the country's investment cycle.

India’s GDP passed the two trillion mark in current US dollars in 2014, according to the World Bank. The most telling aspect of this is the country’s economic expansion: India only reached its first trillion in 2007. The second was added in a mere seven years and most predictions have India passing the third trillion milestone faster still, in just five years.

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 Pramit Pal Chaudhuri
The persistence of such a sluggish pace led the Indian economist Raj Krishna to dub it ‘the Hindu rate of growth’
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