India should adopt China's strong public sector practices for execution of its mega infrastructure development programme, Standard Chartered Bank group executive director and chief executive officer Jaspal Singh said Thursday.
Speaking at a special breakfast talk with Indian business community leaders, Singh highlighted China's aggressive approach, both in negotiating contracts and executing mega projects.
"China's execution of construction projects is ambitious, always on schedule and within budget.
"The aggressive approach, no doubt, would always keep China's infrastructure development ahead of India," he said.
Nevertheless, India would also achieve significant infrastructure development in the next five years, Singh said.
"India, with its massive infrastructure development,would look very different in the next five years," he said.
Comparing the two economies, Bindra noted India's advantages, especially a liberalised and flourishing private sector, which was not feasible in Communist China.
Overall, the Indian and Chinese economies were prospering, having come through the 2008-09 global economic recession relatively unscathed, and are tipped to take over the US economies in term of dollar-based consumption pattern
by 2015, Bindra said.
India would be a bigger consumer than the United States by 2015 and China would cross this milestone a little earlier, he told more than 150 delegates at the talk organised by the
Singapore India Chamber of Commerce and Industry.