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Growth in Automotive, Construction, Electronics, Healthcare, Housing & Construction, Textiles and FMCG is driving growth in plastics.

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Demand in the last 5 years has been led by growth in polymers, fiber intermediates, synthetic fiber and elastomers.

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Printing is driven by growth in print packaging and print publishing. The market size of the package-printing sector is expected to make up 43% of total print product sales in the next year.

Technology race between India and China

Technology race between India and China

Sriharikota: Space agency Indian Space Research Organisation (ISRO) successfully launch a record 104 satellites, including India’s earth observation satellite on-board PSLV-C37/Cartosat2 Series from the spaceport of Sriharikota on Wednesday. PTI Photo / ISRO(PTI2_15_2017_000099B)

History

The reason why China is way ahead in the technological race with India is that it has learned a lot from the US. China borrows a lot from the US in terms of quantity although, in quality, it lacks far behind with the US. Now if we compare the mode of technological advancement of India and China, we will see that in 1980, both of the countries were more or less shoulder to shoulder. However, ten years later, China in the technological race started to pick up speed. So, 1990, for China meant new dawn in the realm of technological advancement. Nevertheless, India too in its own pace was working and putting effort to give its technological sector a distinguishing stand.

Why 1990 was a defining year for China?

With the advent of 1990 and the following years, China began to invest considerably in education and research. This was the golden period in the era of the technology sector as China was striving to generate technical expertise in the country. As education became accessible to people, it became easy for China to give a huge push to its tech sector. It is because of the technical knowledge that the people were getting allowed them to become the driving force behind recent innovations that reached the tech market. In this respect, both the countries who were shoulder to shoulder in the 80s polarized in their respective domains of science and technology.

How are both the countries different from one another?

Keep in mind that both India and China had their own way of perceiving theories and realities in the field of science and technology sector. Their philosophies and way of thinking were diametrically opposed to one another. Thus, the majority of Chinese leaders who are proficient and educated in the fields of science and technology have a different view of their economy. Unlike the Indian leaders, they believe that any advancements in science and technology should benefit the Chinese economy and drive it towards world dominance.

Indian politician, on the other hand, has no inclination to foster science and technological growth in the country. The simple reason is that they do not have a profound interest or education in the science and technological fields. So, as mentioned, if China wants to gain world dominance through technological innovation, India appears to have no such overriding motive.

A look at the advanced technological race between India and China

It is clear that both countries are transforming into becoming technological superstates in their own standing. In the majority of the realms and aspects, the world statistics prove that China is almost a decade ahead of India. However, India is no less; it is bridging the technological gap with China by excelling in other areas. Therefore, if China is the world manufacturers of the tech products and fulfilling the world demand, India too has its standing. India is way ahead from China in the business sector, specifically in business services.

With India’s dominance in the business sector, the statistics and global researches prove that many of the R&D companies are investing heavily in India. In this respect, the Indian Multi-nationals especially in luring outside direct investment are an extra mile ahead of Chinese business sectors. Thus, not only defeating China in terms of business services, India is ahead in innovations in the automotive, steel and pharmaceutical industries.

Nevertheless, it is worth noticing that in the midst of experiencing growth, both the countries will be facing hurdles. However, according to the critical researches, India is on a balancing podium in terms of growth. The reason is that it receives high-end backing from the investment in the private sector. You can visit the site for more info.

China on the other hand, in terms of technological innovation, received 11% annual growth. This growth is the result of foreign or domestic investments and the rising export levels of manufactured goods. Keep in mind that the major factors that lead to such annual growth in China are:

•    External and internal pressures that lead China to experience local growth

•    revaluation of Chinese yuan

The role of the United States

It is impossible to deviate the role of the United States from the emerging technological super states; India and China. It is because the United States definitely need to compose a powerful responsive policy with respect to China and India’s emerging technological dominance in the world. Being a world leader, it had to construct some pro-active measures so that the stability of the world remains. These measures include formulating effective economic and trading policies, robust foreign relations and also security measures.

People envisioned that with the emergence of China and India as tech leaders of the world, the world would face a new set of international relations. Thus, with respect to nation-states, China, India and the US will significantly play a decisive role in the path of international events.