Today, Bangladesh has able to forge ahead in terms of many economic parameters while India was busy dreaming about becoming a superpower in 2020. Bangladesh, a small south Asian country is doing far better than India in many areas now. It has done many improvements in recent years. IMF has projected that GDP per capita of Bangladesh will surpass GDP per capita of India by the end of the year. It is just one parameter but the reality is, Bangladesh has left India behind in several parameters or will do in near future.
Bangladesh, today, is setting a very great example for world and it’s neighboring countries on how development can really be achieved. Let’s discuss and compare Bangladesh and India on various parameters.
IMF has said that by the end of 2020, the per capita GDP of Bangladesh will be higher than India. But IMF has also projected that, our country will again surpass Bangladesh again in 2021, 2030 dollars compared to 1989 dollars. But here’s a catch! This surpass will only last for a short period of time as India’s growth will not sustain for a long time after 2021. Because in 2024, the per capita GDP of Bangladesh would again surpass India and would sustain its lead after that.
Fact – India’s per capita Income, five years ago, was 40% higher than Bangladesh.
Some people would argue that India’s population is higher than Bangladesh and Corona has impacted India’s economy and decreased it’s growth rate. But the fact is, Bangladesh is also a very very populated and dense country. It is three times densely populated than India. If Corona has impacted our country than it has also impacted Bangladesh.
Due to corona, GDP projection of India is -10% while GDP projection of Bangladesh is +4%. Bangladesh has also faced the burnt of Corona Virus but has dealt better than India.
Other Key Factors
Female Literacy- Only 48% Indian women had completed five years of primary education. While it is 54% in Bangladesh. It stood at 92% in Nepal and 72% in Pakistan.
Literacy Rate- India has literacy rate of 74.4% while Bangladesh has 73.9%. Here India is a slightly ahead.
Life Expectancy- Averagely Bangladeshi citizen lives 3 years more than Indian. Life expectancy for males and females in Bangladesh is 71 and 74 respectively. In our country, the corresponding figure is 67 and 70.
Infant Mortality Rate- In India, this rate is 29.9 deaths per 1000 births. The figure is lower in Bangladesh as 22.1 deaths per 1000 births.
Fertility Rate- This rate indicates, on average how many children does a woman bear? It has reached replacement level in Bangladesh where population will stop growing for few years.
Global Hunger Index- This index judges the hunger of the people living in the country. India ranked 94 among 107 countries, which is bottom rank in the list. While Bangladesh rank at 75.
World Happiness Index- Bangladesh is ranked at 125, while India is ranked at 140.
Labour Participation Rate- In 1990s India rate was around 30%, which has decreased to around 20% in 2020. While Bangladesh rate in 1990s was 24.75 which has increased to 36.4% in 2020. This shows a big difference.
Unemployment Rate- Bangladesh rate is at 5% while India is at around 8.5%. And Bangladesh has less unemployed people as a percentage of their population comparing to our country.
How Bangladesh Succeeded?
Bangladesh used to be far poorer than India, just 20 years ago. After their Independence in 1971, they gone through an economic crash shortly afterwards. But Bangladesh picked up pace in the last 5-10 years and is now competing with India. How Bangladesh succeeded? Let’s have a look at some points-
- Bangladesh focus on women empowerment and garment industry helped it through. Garment industry provided employment to women and it becomes world’s second largest garment industry in worlds in 2017.
- Bangladesh focused on its Manufacturing sector. They decided to manufacture things within the country and export to other countries.
- Most of GDP of Bangladesh comes from Industrial and Services sector. They focused on these sectors to achieve growth.
- Bangladesh focused on healthcare, sanitation, financial inclusion, and women’s political representation.
- It has also focused on agriculture sector and it becomes almost self reliable.
- Healthcare and education are also focused points in Bangladesh.
- NGO’s also played big part in Bangladesh’s turnaround.
Bangladesh has not totally surpassed India in every aspect. But has done good in past years. In many aspects, Bangladesh is still behind India like World Press Freedom Index, Freedom Of Speech. So we should just take a lesson from such a small country and try to do better as a country.