CRISIL Research’s latest study showed India's economy was 1.75 times bigger than China's in 1960.
The study showed that in 1980, India's economy was $0.3 trillion, while China's economy was only $0.2 trillion on a purchasing power parity (PPP) basis.
However, by 2013, the China's economy had become 2.7 times India’s. By 2018, the Chinese economy will be more than $20 trillion (PPP), while India’s will not even touch $8 trillion, the study noted.
China has also achieved the per person income of $9,000 plus on PPP basis in 2012 compared to $3,000 in India. This has also led to faster reduction of poverty in China than India.