The Centurions

Members▪ Priyanka Dazy▪ Anurag▪ Pulkit Agarwal▪ Aman Adarsh▪ Chirag Mural▪ Abhishek Chawari▪ Deeksha▪ Debasmita Priyadarshini

About Case▪ Collection of ideas by– Diana Farell, Tarun Khanna, Jayant Sinha and Jonathan R Woetzel

▪ Who’s economic policies are leading to better sustainable future?

OR

Continue…▪ Scope– Countries under study India and China– Sectors under consideration▪ Industrial Sector▪ IT/BPO▪ Service Sector

Timeline

TimelineApril 1980

• PRC becomes member of the International Monetary FundMay 1980

• PRC becomes member of the World BankAugust 1980

• Creation of the four special economic zones in Zhuhai, Xiamen, Shenzhen, and Shantou in order to increase Foreign Direct Investment (FDI)1981

• Household Responsibility Reform: Farmers can retain surpluses from their individual plots of land rather than surrendering them to the collective. Increases efficiency

Continue...1984

• Policy to open 14 coastal cities and three regions as “open areas” for foreign investment. These regions enjoyed less “red tape” and tax benefits to further attract FDI.1987

• Thirteenth Congress of the Chinese Communist Party recognizes the private sector as a necessary supplement to the state sector.1990

• Stock Markets open in Shanghai and Shenzhen

Continue...1994

• Nation-Wide Liberalization1995-96

• Reforms in response to the Asian Financial Crisis• China provides Thailand and other Asian nations with over

$4 billion (US) in aid.1997

• Price Law passed: Prices will be set by the market, but CCP retains right to intervene.

Continue...2001

• Nation-Wide Liberalization2003

• Eliminate price controls to protect domestic industry• Eliminate export subsidies on agricultural products.

2014• China Cuts 2014 Economic Growth Estimate to 7.3% From

7.4%

Timeline

Timeline1952

• India's economy had a 3.8% share of world income.1973

• India's economy was $494.8 billion, which accounted for a 3.1% share of world income.1980-1981

• Economically closed1991

• Economic Liberalisation was initiated

Continue…2010

• India's economy is $4.002 trillion which accounts for a 6.3% share of world income, the fourth largest in the world in terms of GDP.2012

• India's economy is $4.825 trillion, the third largest in the world in terms of GDP.2014

• India's economy is $7.376 trillion, the third largest in the world in terms of GDP.

▪ FDI▪ Allocation of fund▪ Social inequalities▪ Entrepreneurship▪ Industries▪Market

Economic Compariso

n

Sector

by

Sector

IT/BPOIndia's earnings from the BPO sector alone in 2010 is $49.7 billion while China earned $35.76 billion.•Process and Quality•Government Support•Skilled and Talented Resource•Education System

Service SectorService sector

counts 54% in Indian economy where as 41% in China’s economy•Average Annual growth rate•Most advanced service sector •A net exporter of services

Industrial SectorIndustrial sector

counts 42.6% in China’s economy where as 26% in Indian economy•Average Annual growth rate•exports

ConclusionCHINA’S APPROACH TOWARDS ECONOMIC

DEVELOPMENT IS AGGRESSIVEWHERE AS

INDIA’S APPROACH IS LESS AGGRESSIVE AND IT IS DEVELOPING WITH THE PEOPLEFINALLY IT WILL BE THE TIME THAT WILL TELL WHO HAS PLANED THE JOURNEY TO ECONOMIC DEVELOPMENT IN BETTER WAY