Japan had obvious limitations there's only so much you can grow with population as low as 130 million. There per capita GDP is still pretty high. We on the other hand will surpass China to be the only political entity on earth to ever cross 1.5 Billion population.
Our challenges are managing resources and educating and skilling population .
Sent from my C103 using Tapatalk
Our population outlook itself projects stabilization within 10-15 years and decline after 3-4 decades.
Similarly for GDP per capita, Japan wasn't at par with west earlier. It caught up during its boom.
Besides some fast growing economies of East Asia between 50s and 80s, gap between developed and developing countries has enlarged.
And that's why we have much bigger gap to catch up now than Japan, ROK, Hong Kong or ROC had to.
Socio economic issues have been being resolved at a very good pace. 2021 census will portray a much better image of India and 2031 actually much better.
The things to be addressed are economic diversification and free market economy within the country. Most of things fall in line ultimately during economic booms as more money starts to flow in system.
