According to the Asian Development Bank (ADB), Bangladesh is expected to post a growth rate of 7.9% in 2018-19 against the 7.3% projected for India. India, which is the fastest growing major economy in the world and competing to become a global superpower is being almost overshadowed by steady and miniscule neighbour – Bangladesh.
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India’s eastern neighbour saw a GDP growth of 7.28 per cent in the last financial year, according to the Bangladesh Bureau of Statistics (BBS), while India grew at 7.1%. The country’s per capita income is also growing rapid;y. According to United Nations Conference on Trade and Development figures cited in a Dhaka Tribune report, while India’s per capita income rose by 13.8% between 2013 and 2016, Bangladesh’s grew by 39%, which is almost three times that of India.
According to some estimates, if Bangladesh continues to keep up its gross national income (GNI) and GDP growth at the same pace for the next two years, it will overtake India’s per capita income by 2020.
Bangladesh has also made tremendous progress in social development indicators such as life expectancy, infant mortality and gender parity. In a study on ‘human capital’ published in the medical journal The Lancet, India ranked a notch below Bangladesh.
According to the World Bank, in 2017, Bangladesh recorded an infant mortality rate of 27, which means that these many children died on average within the first year for every 1,000 live births. For India, the rate was 32. The average life expectancy for an individual in Bangladesh is 72.58 years, against 68.8 years in India.
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