India and Bangladesh are among the many fastest-growing main economies on the earth. Nevertheless, as a consequence of latest turmoil in Bangladesh politics, there’s uncertainty over whether or not Bangladesh can keep its development momentum. Right here is how the economies of two international locations have carried out within the final 20 years.
GDP at present costs: Information from the IMF exhibits that the scale of India’s GDP at present costs is $3.94 trillion in 2024. That is practically 9 occasions greater than the scale of the Bangladeshi financial system valued at $455 billion. Since 1980, India’s GDP has posted a bounce of over 21 occasions from $186 billion in 1980, whereas Bangladesh’s GDP has surged over 18 occasions from $25 billion in 1980 to $455 billion in 2024.
Within the final 10 years, the scale of the Indian financial system has elevated 93% from $2.04 trillion in 2014 to $3.94 trillion. Then again, the Bangladesh financial system rose 120% on this period from $207 billion in 2014.
From 2004 to 2014, India’s GDP surged 188% from $709 billion to $2.04 trillion; compared, Bangladesh’s GDP grew 168% in that interval from $77 billion in 2004 to $207 billion in 2014.
GDP per capita at present costs: At $2,731, the per capita GDP of India is barely increased than Bangladesh’s per capita GDP of $2,646 in 2024.
Nevertheless, in 1980, Bangladesh had a per capita earnings of $311, which was 17% greater than the Indian per capita GDP of $267. Since 1980, Bangladesh’s per capita earnings has surged over 8 occasions. Whereas India’s per capita earnings elevated over 10 occasions.
Within the final 10 years, India’s per capita earnings has elevated 75% from $1,560 in 2014 to $2,731. Then again, Bangladesh’s per capita earnings rose 97% on this period from $1,340 in 2014 to $2,646.
Whereas from 2004 to 2014, India’s per capita earnings gained 150% from $624 in 2004 to $1,560 in 2014; compared, Bangladesh’s per capita earnings grew 138% in that interval.
Common authorities gross debt (per cent of GDP): In 2024, gross debt on the Indian authorities as a per cent of GDP stands at 82.5%, whereas Bangladesh has 41.4% authorities debt.
In 2004, India had 85% debt, whereas Bangladesh had 37% debt. From 2004 to 2014, India’s authorities debt has decreased from 84.9% to 67.1%, whereas the Bangladesh authorities’s debt declined to 29% from 37%.
Within the subsequent decade from 2014 to 2024, India’s debt has surged to 82.5% in 2024 from 67.1% in 2014. Equally, Bangladesh’s authorities debt elevated to 41.4% from 28.7%.
Exports: World Financial institution knowledge confirmed that India is the world’s tenth largest exporter, with exports valued at $777 billion in 2023. Then again, the overall worth of exports from Bangladesh stands at $57.5 billion. Indian exports are over 13 occasions increased than Bangladesh.
Bilateral commerce: CMIE knowledge exhibits that over the previous decade, commerce between the 2 nations has surged by 165%, reaching Rs 1.07 lakh crore.
India’s imports from Bangladesh within the final decade jumped 426% to Rs 15,268 crore in FY24. India’s main imports from Bangladesh in FY24 had been readymade clothes value Rs 4,932 crore, adopted by textiles Rs 2,697 crore, and engineering items Rs 2,140 crore.
Then again, the worth of India’s whole exports to Bangladesh in FY24 scaled at Rs 91,614 crore, growing 145% within the final 10 years. India’s main exports are textile supplies with a value of Rs 17,817 crore, which embrace yarns, materials, and made-ups. Whereas engineering items (Rs 16,837 crore) and chemical compounds & associated merchandise (Rs 8,977 crore) had been amongst different main exports.
