Posted 10/13/2023, 6:25:00 AM
India's growth to stay in China's shadow; HSBC sees widening gap
- India's economic gains unlikely to displace China as main growth engine soon HSBC
- India "runs on too few cylinders" while China "too large" to be eclipsed
- HSBC expects China-India gap to widen, reaching $17.5 trillion by 2028
- India's share in global investment and consumption far below China's
- India will contribute to demand for commodities, goods and services
- India could play big role in services exports like China in goods
- IMF forecasts India growth at 6.3% in 2023-24, China at 5% and 4.2%