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India's poor economic performance
I was reviewing some historical economic data on GDP, Population and per-capita GDP for various countries in the World. I knew that India lags behind many Asian countries in terms of GDP and per-capita GDP. But the magnitude surprised me! I compared the figures for 1950 (when India became a Republic) and 2000 for various Asian countries. Here are the tabulated results (some of figures could have been rounded. Blame MS Excel):
Table 1: Year 1950
Table 2: Year 2000
Table 3: Comparison between 1950 and 2000.
What is India's excuse for such a dismal economic performance? Large population? No, because China had more population than India in 1950 and 2000! Hong Kong and Singapore had increased their population by a ratio of 3.2 and 4.2 resp. while India increased her by 2.85. The China's GDP grew by 19 times in 50 years while the figures for Hong Kong and Singapore are 30 and 39 resp. British looted us? China, and South Korea were terrible in 1950. China had a bloody civil war and resulting rise of communism, while South Korea was invaded before by Japan, and ravaged by war with North Korea.
Other than our failed economic policies (Nehru and Indira Gandhi are to be blamed here) I cannot find any other explaination! The facts and figures are just too dammning!
The Excel spreadsheet has this note regarding the source of the data:
* Source: Virtually all the data are derived from The World Economy: Historical Statistics,
OECD Development Centre, Paris 2003, which contains detailed source notes.
See also The World Economy: A Millennial Perspective, OECD Development Centre, Paris 2001.
Figures for 1820 onwards are annual, whereever possible. For earlier years,
benchmark figures are shown for 1 AD, 1000 AD, 1500, 1600 and 1700.
Figures for 1820 onwards are annual, wherever possible.
For updates of the GDP and per capita GDP figures beyond 2001,
readers may find it helpful to refer to the ggdc database (http://www.ggdc.net/)
Update: I tried to format the tables so as to fit within the margins. Thanks for all those who gave feedback on the page problems. Unfortunately, I could not make the tables better than this. Any help will be appreciated.
Table 1: Year 1950
| Country | Population
(000 at mid-year) | GDP (millions) | Per Capita GDP |
| China - Chine | 546815 | 239903 | 439 |
| India - Inde | 359000 | 222222 | 619 |
| Indonesia - Indonésie | 79043 | 66358 | 840 |
| Japan - Japon | 83805 | 160966 | 1921 |
| South Korea - Corée du Sud | 20846 | 16045 | 770 |
| Thailand - Thaïlande | 20042 | 16375 | 817 |
| Taiwan | 7981 | 7378 | 924 |
| Hong Kong | 2237 | 4962 | 2218 |
| Malaysia - Malaisie | 6434 | 10032 | 1559 |
| Singapore - Singapour | 1022 | 2268 | 2219 |
Table 2: Year 2000
| Country |
|
| Per Capita GDP |
|
|
| ||
| Population
(000 at mid-year) | GDP (millions) | ||
| China - Chine | 1,264,093 | 4,329,913 | 3,425 |
| India - Inde | 1,007,702 | 1,924,297 | 1,910 |
| Indonesia - Indonésie | 210,875 | 675,503 | 3,203 |
| Japan - Japon | 126,700 | 2,669,450 | 21,069 |
| South Korea - Corée du Sud | 47,261 | 677,871 | 14,343 |
| Thailand - Thaïlande | 62,352 | 395,046 | 6,336 |
| Taiwan | 22,151 | 368,635 | 16,642 |
| Hong Kong | 7,116 | 152,980 | 21,499 |
| Malaysia - Malaisie | 21,793 | 171,553 | 7,872 |
| Singapore - Singapour | 4,152 | 92,198 | 22,207 |
Table 3: Comparison between 1950 and 2000.
| Country | Population ratio | GDP | Per Capital GDP |
| (2000/1950) |
|
| |
|
| Ratio (2000/1950) | Ratio (2000/1950) | |
| China - Chine | 2.332401 | 19.04849 | 8.166901 |
| India - Inde | 2.851226 | 9.014378 | 3.16158 |
| Indonesia - Indonésie | 2.71122 | 10.5156 | 3.878547 |
| Japan - Japon | 1.514134 | 16.30483 | 10.76842 |
| South Korea - Corée du Sud | 2.284371 | 43.54758 | 19.06327 |
| Thailand - Thaïlande | 3.143804 | 24.55921 | 7.81194 |
| Taiwan | 2.794441 | 49.01477 | 17.5401 |
| Hong Kong | 3.223292 | 30.89198 | 9.583983 |
| Malaysia - Malaisie | 3.455041 | 17.1861 | 4.974211 |
| Singapore - Singapour | 4.207435 | 39.83862 | 9.468626 |
What is India's excuse for such a dismal economic performance? Large population? No, because China had more population than India in 1950 and 2000! Hong Kong and Singapore had increased their population by a ratio of 3.2 and 4.2 resp. while India increased her by 2.85. The China's GDP grew by 19 times in 50 years while the figures for Hong Kong and Singapore are 30 and 39 resp. British looted us? China, and South Korea were terrible in 1950. China had a bloody civil war and resulting rise of communism, while South Korea was invaded before by Japan, and ravaged by war with North Korea.
Other than our failed economic policies (Nehru and Indira Gandhi are to be blamed here) I cannot find any other explaination! The facts and figures are just too dammning!
The Excel spreadsheet has this note regarding the source of the data:
* Source: Virtually all the data are derived from The World Economy: Historical Statistics,
OECD Development Centre, Paris 2003, which contains detailed source notes.
See also The World Economy: A Millennial Perspective, OECD Development Centre, Paris 2001.
Figures for 1820 onwards are annual, whereever possible. For earlier years,
benchmark figures are shown for 1 AD, 1000 AD, 1500, 1600 and 1700.
Figures for 1820 onwards are annual, wherever possible.
For updates of the GDP and per capita GDP figures beyond 2001,
readers may find it helpful to refer to the ggdc database (http://www.ggdc.net/)
Update: I tried to format the tables so as to fit within the margins. Thanks for all those who gave feedback on the page problems. Unfortunately, I could not make the tables better than this. Any help will be appreciated.
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