Competitive situation with China to harm India more: Chinese daily

India is set to grow at 7.4% this year as per IMF but still the Indian economy won't surpass that of China any time sooner, according to Global times, a Chinese daily.

Refering to Indian Prime miniser Narendra Modi's statement in Davos that India is capable of creating a 5 trillion dollar economy by 2025, editor of Global Times, Hu Xijin in a video post said the goal will surely excite the Indian society.

He said that India rapid economic growth follows the same general logic as China's growth and that the country boasts growth potential and harbours a long-time ambition to surpass China.

However he added, "I want to remind Indians that Chinese and Indian growth rates only differ slightly so far. Currently there is no evidence that India's economic growth will surpass China's in the long term. More importantlyl, China's GDP is over fout times than that of India. The projected growth rate for China and India this year is 6.6% and 7.4% (respectively). The absolute increment of China's economy will be far more than India's. This means that the total economic output between the two nations will continue to widen."

The Global Times editor further added that the actual annual economic increment in China has long surpassed that of US. The economic gap between China and the US narrows every year while the gap between China and India gradually widens.

He also warned that "a competitive situation between China and India is not beneficial to India".

"This is a point that Indians should understand."

Currently, China boasts an economy of $12.250 trillion compared to India's $2.439 trillion.