The Growth and Development Trajectory: A Theoretical Review on India and Singapore

Abstract

Integration in the economies has widened up the linkages across the Globe and gave a new concept of “Regionalism”. Thus, since 1960’s, Asian Region is considered as one of the emerging regions in the World, which has shown difference in the Development pattern. So, the present study has taken an attempt to theoretically analyse the development pattern of two different economies having their own regional and structural traits and characteristics. Further, the two economies, in the context of population as well as GDP per capita, are different from each other. But the colonization of British, rapid industrialization and Globalization, made such an economic and structural characteristic which compels the need of this study. The time period took under the study is 2000-2019, by comparing on various theoretical aspects as GDP, HDI, Life expectancy, financial openness etc. Thus, the study has concluded that although GDP of India is higher than that of Singapore, owing to its big market and large in demographic size. But, the development parameters, have shown that, Singapore is having more score as in HDI ranking, Life Expectancy, integration and peace in the east region than India in Southern Asian due to the active and outward oriented political environment, technological investment and capital intensification by their Government.