Bangladesh have picked up the correct track. It turns out you don't really need to rack your brain over economic policy. Just pick light manufacturing if you are a beginner. Shoes and RMG is all that you need to do wonders. It's the perfect choice. Doesn't take massive amount of land. Highly labor intensive, that too semi-skilled. And not very energy hungry (like steel for example). Indian policymakers aimed too high and fell flat on their face.Ya nice bla bla bla bla bla.
2 facts -
First, We got through hell in 1971. We had to start over, everything was ruined after that bloody war.Indians got their country in a begging bowl in 1949. That's almost 2 decade difference.
Second, Despite all the 8-9% recent growth india saw(considering it has any truth in it) , our per capita in last half decade has been closer to their with a difference of barely 200-300 usd. Not to mention, we pretty much lead in every social indicators including income equality among all major economies here. There is Maldives & Sri Lanka above us i think, they are a bit smaller. But i ain't gonna use that as an excuse. In another decade & half we will surpass Sri Lanka to have second biggest per income after Maldives, probably in lesser time.
Now coming back to this indian comparison, India really never was a primary comparison factor/point for us. All the love letters from here to India is basically from Hasina government. People here are barely bothered about India.
Covid is once in a life time situation. A calculation re-adjustment with 10 usd difference doesn't mean anything. It's the Indians running news articles & you tube videos full day after that IMF report which barely worth anything.
There is no need to get so defensive for your "world's biggest democracy" pal. Or you are worried that india is going to be World's biggest failed democracy? putting another blot in your long list of failed democracy export list?
Tell your buddy no to be worried about us, because we sure aren't bothered about them.
I am not reading too much into the per capita figure in current year. The nominal figure distorts the real condition. For one, Bangladesh' population is under-counted in these measures. Then there are a number of telltale metrics that give away the real story. Electricity consumption is less than half of India. Car ownership is one fourth! Capital city Dhaka, a city of 18 million, doesn't have an inch of mass rapid transit. I would say Bangladesh is only about half as affluent as India today. But what matters is the underlying strength. Bangladesh will get closer to India by 2030.
India's present far right government is way out of its depth and has completely tanked the economy (even before the pandemic). Their hare-brained economic policies will keep slowing India down.
Indians have similar delusions about their own independence as well. They too think they 'won' it on their own. This is actually a key factor that can explain the difference between China and India. CPC legitimacy is far stronger because it's built by blood and iron. India-Pak-BD is sophistry.Helped liberate in 1971? With their thousands of years of rich history/culture of getting whacked by everyone?