CHALLENGES, AND STRATEGIES

As the world’s fastest growing economies, India and China have significantly served as “engines of world economic growth”. At the same time, they are beset with gigantic internal socio-economic problems and are endeavoring hard to achieve economic growth with social justice for a greater “societal good”. Given their ideo-logically divergent political systems and varying historical and cultural experiences, however, India and China have pursued radically different development paths to achieve their respective socio–economic goals. This article addresses the dynamics of development within theoretical perspectives, deals with development policies, per-spectives and strategies of India and China in the historical backdrop, and spells out their development challenges which need to be addressed to achieve social justice and inclusive growth. Keywords: India’s development policy; China’s development policy; development challenges; implementation lag; accountability; economic reforms; development paradigms. 1