BEIJING, Mar. 4: It would be dangerous for China if it adopted an arrogant attitude towards India and ignored its increasing competitiveness in the manufacturing sector, a Chinese daily said on Friday.
An editorial in Global Times said India's growing might in its manufacturing sector means stiff competition and more pressure on China.
It said that despite demonetisation slowing the Indian economy, the touted growth of 8.3 per cent in the manufacturing sector was quite an achievement.
"There has been a lot of discussion about whether India's higher-than-expected economic growth of 7 per cent from October to December 2016 is authentic and reliable. Meanwhile, less attention is being paid to bright points in the country's economy. What cannot be overlooked is the increasing competitiveness of the manufacturing sector in India."
"India's January exports to China soared 42 percent year-on-year was overlooked by most Chinese analysts, but it will be a very dangerous venture if China adopts an arrogant attitude toward India's increasing competitiveness."
"Although (Prime Minister) Narendra Modi's demonetisation move put a dent in India's economic momentum, the country's manufacturing sector still grew 8.3 per cent in the third quarter of the country's fiscal year. This is a great achievement for India, even if the growth figure may be exaggerated as some analysts suggest."
"Manufacturing development in a large country like India means more pressure on China. The increasing competitiveness from India's manufacturing sector is a issue of strategic importance and deserves more attention."
The daily said it would be premature to say if India could replace China as a manufacturing giant.
"It is not easy to form a complete industry chain from screw to commercial airliner in a short time, increased competitiveness from Indian-made products should be closely watched." (ET)
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