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India can become a strong economy like China: Panagariya

Press Trust of India  |  Shillong 

can become a USD 10 trillion economy in the next 15 years, like did in last one and a half decade, NITI Aayog Vice-Chairman Panagariya said today.

"What has accomplished in last 15 years is very impressive. China's economy has gone from USD 2 trillion 15 years ago to USD 10 trillion today," Panagariya said at the India-Strategic Economic Dialogue held at the here.

He said, "With China promoting out-bound investment and seeking foreign capital and technology, it should enable us to take advantage of the synergies and put in place a vigorous framework to strengthen bilateral investment relationship."

The NITI Aayog vice-chairman said, Dr Centre for Policy Research and Analysis of Shillong should create a dedicated team to study how China contributes USD 500 billion or more to annual growth of the global economy.

He said there is much scope for to benefit from Chinese experience in the manufacturing sector and make the country into a robust & steady economy.

He suggested that the Dr Centre can have a specialized India-China Policy Research Group to work closely with NITI Aayog for the next India-China Strategic Economic Dialogue.

During last India-China Strategic Economic Dialogue, both the nations have agreed upon working on Contribution to Global Recovery & Growth, Developments in the Indian & Chinese Economies, and Bilateral Cooperation.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, November 17 2016. 22:28 IST