India has overtaken China as the world's most populous country, according to World Population Review. According to the data managed by this independent organization, India's population currently stands at 1,417 million, 5 million more than that of its neighbour and great rival (not only demographically).
In 2023, India overtakes China as the country with the largest population in the world. #population #India pic.twitter.com/u34mSlxUrP
— JDean (@JDeanSCS) February 3, 2023
According to data from its National Bureau of Statistics, China closed out 2022 with its first population loss in six decades.
"China's demographic decline is the most important factor in its slowing economic growth," opined Canadian economist Robert Blohm.
With this data, India will be able to continue to challenge China in areas such as production. "India has a large labor pool, a long history of manufacturing, and government support for industry and exports. Because of this, many are beginning to explor whether Indian manufacturing offers a viable alternative to Chinese manufacturing," stated Julie Gerdeman, Everstream's board of directors.
China's population is shrinking for the first time in six decades, with India set to overtake it as the world's most populated country. pic.twitter.com/xH9JyKWmAe
— DW News (@dwnews) January 18, 2023
Now, as Axios reports, some experts believe it could take decades for India to compete with "China's manufacturing power," due in no small part to "red tape, protectionism and a weak value chain."
"India certainly has advantages in terms of demographics, geography, existing infrastructure, much of which has been built in recent years, however, what it doesn't have, are all the pieces of the puzzle," commented Forrester consultancy research director Ashutosh Sharma.
