China better off than India in industrial output

NEW DELHI: India's industrial production in October 2008 fell by 0.4% from that in the corresponding period last year. In comparison, China's industrial production which dropped by 5 percentage points during the same period to 8% is apparently doing much better than India.
However, the other BRIC economies Brazil and Russia are faring worse than even India.While Brazil's industrial production declined by 0.8%, that of Russia by 0.6%.
But the pace of slowdown could hit China worse because of its dependance on exports which will slow down further in the coming months. China's slowdown in factory production to 5% is a reflection of worsening conditions as it is more industrialized and export oriented. Industrial output accounts for 40% of China's GDP whereas it accounts for only 20% of India's GDP. Observers believe overall GDP of China will be impacted and it may not achieve a GDP of above 8% for 2009.