India to offer more opportunities to world than China: Mao

Kolkata, Jun 8 (UNI) Even as India and China have resolved to emerge as a global force justifying ''Chindia'', a portmanteau that refers to both countries together during the recently concluded bilateral meeting in Beijing, India is in ''advantageous position''.

Consul General of China in Kolkata, Mr Mao Siwei said amid an atmosphere of camaraderie during Sino-India External Minister level talks, which advocated for ''unification of the two nations'' setting aside all their differences including the border dispute, India is in advantageous position.

After interacting with members of the Indian Chamber of Commerce (ICC) here on June 6, the second consecutive day of Bengal bandh, questioning economic progress of the state, Mr Mao told UNI that India would offer more opportunities to the world than China ''in the long run.'' ''Though economists around the world generally agree that economic development of China is about 10 years ahead of that of India, I need to say that more and more Chinese people are now becoming aware of the comparative strength of the Indian economy and recognise that China should learn from India in many aspects,'' Mr Mao opined.

Elaborating the matter, he said while China's growth had been stimulated largely by investment, especially by FDI, India's growth was mainly fuelled by an expanding domestic market and according to some economists the Indian model of development might be more sustainable.

''Furthermore, India has a population that is growing younger and that will continue to supply young people to the labour force for a long time but China has an ageing population that will result in labour supply problems in the future,'' he added.

According to a research, the Chinese Consul General said by 2015, 32 per cent of the Chinese population would be over 50 years old, but in India it would be only 16 per cent. The people under 14 years old would be only 13 per cent of the total population in China while in India the figure would be 31 per cent.

Mr Mao also said the management of financial institutes in India was better than that of China and the proportion of loans in the Chinese banking system was much higher than that of India.

''In terms of English language, legal system and accounting system, it is relatively easier for India to communicate with western countries which give India advantages as far as integration into the world economy is concerned,'' the Chinese Consul General added.

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