- Australia GDP grew for 25 years because of its resources.
- Netherlands's GDP grew for over 25 years after oil was discovered offshore.
- So, natural resources can help drive GDP growth for a long time.
- Australia grew for the past 25 years primarily due to exports to China. In 1991, exports to China were 2% of Australia's total exports. In 2017, it was 33%.
- Of Australia's GDP growth of 3.5% , 2% is accounted for due to population growth and 1.5% due to increase in resources investment.
Summary: India's GDP can also grow for a very very long time because of the huge population and increasing consumption.
https://www.bloomberg.com/news/articles/2017-03-30/as-australia-eyes-victory-on-growth-its-spoils-look-bittersweet
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