NITI Aayog Vice-Chairman Arvind Panagariya has expressed his confidence that the size of the Indian economy can grow to $10 trillion over the next 15 years, as China did in last one and a half decade.
Panagariya has said that India started off to a rapid growth a little later than China, but now has the potential to accomplish in the next 15 years. He pointed that what China has accomplished in last one and a half decade is very impressive as its economy has gone from $ 2 trillion 15 years ago to $10 trillion now. Describing India and China as 'two rare bright spots' in the context of a global economic slowdown, Panagariya stated that there is much scope for India to benefit from the Chinese experience in manufacturing sector, towards transforming India into a modern urban economy.
On bilateral co-operation, he added that with China promoting out-bound investment and India seeking foreign capital and technology, which should enable us to take advantage of the synergies and put in place a dynamic framework to strengthen bilateral investment relationships. He also suggested that the Dr APJ Abdul Kalam Centre can have a specialized India-China Policy Research Group to work closely with NITI Aayog for the next India-China Strategic Economic Dialogue.