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Rediff.com  » Business » India, China record impressive growth: UNDP report

India, China record impressive growth: UNDP report

July 10, 2003 12:57 IST
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Singling out India and China for the impressive growth in recent years, the Human Development Report-2003 of the United Nations Development Programme says bridging regional variations is a key challenge that confronts the two large economies.

''China and India, together containing a third of the world's population, have enjoyed tremendous economic growth over the past decade. Their success in advancing the average well-being imply major improvements for a large section of the humanity," the report said.

''But their experiences also point to the importance of looking beyond national averages to understand the differences within countries,'' it observed.

The real per capita income in India grew at a robust, though modest average rate of 4.4 per cent, reaching $2,358 in 2001.

Reflecting their successful economic growth, both countries have seen significant reduction in poverty.

According to the World Bank estimates based on consumption surveys, the proportion of people living on less than $1 a day declined in China from 33 per cent in 1990 to 16 per cent in 2000.

In India, the proportion fell to 35 per cent in 2001, from 42 per cent in 1993-94.

''While highly contested because of the differences in methodology, survey design and samples, these calculations nonetheless provide a rough indication of the poverty trends in these countries,'' the report added.

Though both countries have achieved rapid, sustained economic growth, the rates of progress have been quite different, it said.

China has experienced the fastest sustained economic advance in human history, averaging real per capita growth of 8 per cent a year over the past decade. Its per capita income is now $3,976 in purchasing power parity terms.

The report, commissioned by the UNDP, was launched in India and Ireland on Tuesday.

The second part of the global launch will be held at the African Union Summit in Maputo, Mazambique on Thursday.

(UNI)

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