India should learn from China growth story

The Indian growth
story was driven by the services sector, but the country needs to improve
manufacturing competitiveness to achieve 10% growth, which would in turn need a
strong backing of infrastructure support.

Addressing the Plenary
session on 'The China Growth Story' at the partnership summit here, SN Menon,
commerce secretary, Ministry of Commerce and Industry, Govt. of India, said that
the Chinese experience shows the value of infrastructure, education and health,
which are vital for Indian growth with social justice.

India has to look at
more efficient use of resources and address regional imbalances and the widening
rural and urban divide. The country should concentrate on rural development and
rural infrastructure and put in necessary linkages in the agro supply chain,
carefully manage environmental issues and price environment resources sensibly,
he added.

It is important that the two economies learn from each
other and academics and industry must share their experiences. While it is
difficult to compare two different countries, one being a dynamic and vibrant
democracy, India must remember that it needs to be slow and steady and may be
able to take the kind of steps that China has taken. The new special economic
zones were a step in the right direction.

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