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How India Can Beat China Economically?

Venkatesh
24/07/2017 1 0

China has become a nuisance to India and its Development.

Being a member in UN, BRICS, G20, and importantly being India’s neighbour having boundary disputes, China has become big threat to India and its Development.

India needs to concentrate on why China can produce products at low cost of better service with higher output in less time of expert imitator with quality of work, and dominate in their strong area.

I have mentioned some of the ways through which India can beat China in near future:

1. Economic Reforms on fast track.

2. Tax Reforms: Concessions to industries to promote more production.

3. Automation of Industry.

4. Technological Advancement.

5. Apply Economies of Scale to reduce cost of production.

6. Increase Exports.

7. To have better Foreign Policy: All Chinese Enemy’s should be India’s friends namely Philippines, Japan, South Korea, Vietnam.

8. Apply the rule of “Enemy’s friend is also an Enemy”.

9. To focus more on Make in India than importing.

10. Tie up major manufacturers to have manufacturing set up in India since China is having poor patents record.

11. Control Inflation.

12. Skill Development: Emphasis on Talent Development.

13. Encourage Indians to use only Indian products so that money will be circulated within India.

14. Investment in Infrastructure.

15. Indian Government should negotiate with its partners to settle the transaction in INR than in USD.

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