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India Says Its Economy Outgrew China in 2015
India’s gross domestic product expanded 7.5% last year compared with 6.9% growth for China, according to government data from both countries.
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India’s gross domestic product expanded 7.5% last year compared with 6.9% growth for China, according to government data from both countries.
India, which tracks its GDP by fiscal rather than calendar years, reports its annualized growth in October-December was 7.3%, down slighting from measures of the upwardly revised two previous quarters. The country predicts growth of 7.6% for the year that will begin on April 1.
A year ago India switch to a different base year and revised its method of estimating GDP. Many economists remain skeptical about the result, pointing to conclusions about overall growth that seem to contradict micro-indicators. Among them for the previous quarter are weak indicators for exports, investment activity, railway freight traffic and cement production.
Supporters of the government data note that India has outgrown China in the past. They point to International Monetary Fund data showing that India’s economy expanded faster than China’s GDP four times in the 1980s and 1990s.
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