Beijing: China should take competition from India seriously as the Indian economy may see "explosive" growth in the future, raising prospects of it becoming "China 2.0", according to a Chinese think-tank.
"As China's demographic dividend diminishes, India, with half of its population below the age of 25, is poised to take advantage," a study on Indian economy by Chinese private strategic think tank Anbound said.
"A survey by Ernst and Young (EY) ranked India as the most attractive investment destination in the world. Among 500 executives from multinational companies involved in the survey, 60 percent considered India one of the top three investment destinations in 2015. The country's vast domestic market, low labour costs and skilled labour market are its most attractive features," it said.
"Generally speaking, India does have the conditions to copy China's economic growth model thanks to its vast size and market, low labour costs and large population, which are all similar to China's conditions. In fact, based on the EY report, global investors are currently undecided," it said.
"No other country could compete with India in supporting investors in the solar economy. It should be pointed out that China has not conducted enough studies on India. From the perspective of think tanks, China cannot wait until India grows into an apparently promising competitor before discussing how to deal with the situation," the report cautioned.
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