Talk of India’s potential to become the “next China” is inevitable given their enormous populations, and will intensify as China’s economy slows. Those hoping that India can match China’s former rates of economic growth are likely to be disappointed. What’s more, developments in India will not have the same impact on global trade flows, inflation or commodity markets as China did. But none of this detracts from the fact that India is already a significant contributor to global growth, and that its importance will continue to rise over the coming years.
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