From China to India

India should welcome investments looking for alternatives

The Communist Party of China (CPC) on Sunday began its annual meeting in Beijing. The meeting will last until March 13, and several more indications about the CPC’s intentions will emerge over time. However, it has already revealed its growth target for the country’s economy: 5 per cent for the year, according to a speech by outgoing Premier Li Keqiang. This was one piece of economic news that emerged from the first two days; the other was the focus on “self-reliance” in frontier technologies. The work report released by Mr Li called for a “whole nation strategy” that essentially recruits the entire economy, from the military to the private sector to academia, into a party-run effort to control the advanced technologies of the future. Both these pieces of information, when taken together, however, reveal the urgency of investment-friendly reform in India.

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