Difference between the economies of india and usa?
gross differences ! compare britain and usa !!
india- developing country
The USA's GDP per capita is $45,000, India's is $3800. That's a big difference, and India is not supplying enough workers as compared to it's population, there is a bigger percentage of people living in poverty than there are middle class or high class.
A country has a high income like the US because it has a lot of capital both physical and human and natural resources per person. Physical capital includes factories and machinery but also infrastructure like roads, power systems, water systems, schools, and ports. Human capital includes the health, education, and skill levels of the workers. The US also a lot of natural resources (farm land, minerals, oil). India can not increase its natural resources but it can increase its physical and human capital and thus increase productivity and incomes.
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