labels: economy - general
India can now be compared with China: Chidambaram news
05 February 2007

New Delhi: With 9-per cent economic growth, finance minister P Chidambaram today said it would not be wrong now to compare India with China, even while it could though there was a lot to learn from the neighbour.

Speaking in the capital at an international conference on meeting India's infrastructure needs with public-private partnerships, Chidamabaram said India had often been compared with China and there was enough room for both countries to grow as both countries in many ways complement each other, even while they competed in in many others.

Among the areas where India could learn from its neighbour, Chidambaram said, were timely project execution, strict discipline and reward-punishment for those who are in charge of the project execution.

"But we are proud of pur political system. We do not envy China, we wish to emulate it in the matter of infrastructure," he added.

He said though India's savings and investment rate as percentage of GDP have gone up by 2 per cent each, to sustain the revised growth rate of 9 per cent in the 11th Plan, both savings and investment as proportion of GDP must be raised further.

Chidambaram said he was confident that India would receive more investments after the upgrading of its sovereign rating to investment grade.


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India can now be compared with China: Chidambaram