Dr. Diaa Helmy, a member of the Asian Affairs Committee at the Egyptian Council for Foreign Affairs, stated that while American support provides a significant boost to India’s economy, it is insufficient to rival China’s global influence in the near future. Speaking on the program “Money and Business” on Extra News, Helmy explained that although the US aims to bolster India as a potential alternative to China, this shift remains challenging and unlikely to happen soon due to economic indicators and technological realities. Helmy highlighted India’s notable export growth, with products ranging from pharmaceuticals ($20.4 billion) to refined petroleum products ($80 billion). However, he pointed out that China’s GDP stands at $18 trillion compared to India’s $3.7 trillion, creating a vast gap. The IMF predicts India’s growth will exceed 6% over the next two years, but Helmy cautioned about political influences on reports, noting India’s per capita income is $2,500 annually, far below China’s. The trade balance between the two nations shows a clear Chinese dominance, with India’s deficit reaching $99.2 billion out of a total trade value of $138 billion.
— new from Masrawy
