Among major economies, India has done well in recent years.
But not as well as China -- China grew 4.7% from a much bigger base to India's 3.8%.
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So the gap in the real economy has increased horribly wide between China and India in the recent years.
Also, China has a lot of real drivers for new growth:
1) EVs and autos
2) Expanding trade with Global South greater than US, EU and Japan combined
Those two alone are entirely new growth areas that could power China for a long time.
But they are not only ones:
3) Nuclear fusion and safe reactors -- China will build more nuclear power plants than rest of the world combined
4) Space industry -- already either first or second in launches every year but is ancipating a lot more in the future with the mega-constellations and the private firms
4) The Maglev and the electro-magnetic industry -- already China is testing 600KPH maglev trains, hyperloops and space launch devices (to go with the EM catapults and railguns for the military)
5) New shipbuilding sectors in the highly lucrative cruiseliner and Very Large Gas/Chem Containers space
6) Internal semicon industry -- and not only silicon. Photonic and graphene chips will drive new supply chains just like EVs did in auto industry. But even in silicon, China is de-Americanizing its chip industry and speeding to EUVs so the growth in simply moving the world's largest semicon market from a global supply chain to a local one will mean massive growth Chinese firms for years!
7) C919, C929, CJ1000, CJ2000, etc! A new and growing aircraft and aircraft engine industry! (And that's not counting the new Airbus lines where like Tesla in EVs, China will become an important manufacturing base for global aerospace)
I do not see any drivers of that magnitude from India unfortunately except for the diversification of the Western supply chain to include other countries instead of just China.
But this is actually proving to be another source of growth for China. China is hitting records with components exports to Vietnam, the rest of ASEAN and India.
This is a chart of India's imports from China in the last two years while banning apps and things from China!
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So we know that those imports are not a choice but a necessity for India's own growth.
But the problem for this one Indian growth driver is it is far easier for Chinese components to reach Vietnam and ASEAN than India. This is proven out by the fact that Vietnam is getting most of the new factories and thus new exports to the West. Vietnam is literally beating the pants off of India here!
Also Chinese components are going very heavy into Mexico and Latin America -- the transport advantages there are too great:
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Once the Chinese (and other East Asian firms) are set up there, I can't see how India can compete for most of the new lines. India will get some because of its big internal market but there is too much competition from the likes of Vietnam, Mexico, Thailand, etc, for it to become a manufacturing hub of the same magnitude as China when the PRC began its ascent in 2000 with WTO.
chinapower.csis.org
www.statista.com
