One of the biggest and best indicators of India’s economic growth during the boom in the 80’s and 90’s was India’s young population growth. Between 1970 and 1997, India’s population grew on average by 6% per annum.
If you take India’s total growth rate and compare it to China and the US, you will see that India’s economy in 1997 was at the same level as China’s economy in 1970.
When India’s economy began to slow in 1998, the country’s population remained stagnant and GDP stalled. India’s economy fell back to its pre-98 level by 2001 and, even then, it could not recover until 2004 when China began a decade-long boom.
India’s population growth in the 70s and 80s was much faster than China’s. But here, we are not considering factors like Liberalization and Privatization in the context of India and the communist way of doing business in china. The poverty rose in this period but now shows certain signs of decline.
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