India to become world's third-largest economy in 2011September 26, 2011
India is expected to overtake Japan to become the world's third largest economy in 2011 in terms of Gross Domestic Product (GDP) measured, according to the domestic purchasing power of the rupee, also called Purchasing Power Parity (PPP).
In 2010, the Japanese economy was worth US$ 4.31 trillion, while India trailed close at US$ 4.06 trillion. The International Monetary Fund's (IMF) estimates state that the Japanese economy will contract by 0.7 per cent in 2011 while the Indian economy will grow at 8.2 per cent. It is estimated that the Indian economy will reach a size of almost US$ 5 trillion by the end of 2011.
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Emergence of India as a key global economy by 2050September 12, 2011
India will be one of the seven economies that will lead the rise of Asia. These seven economies alone will account for 45 percent of global GDP, according to Asia 2050: Realizing the Asian Century, a report by Asian Development Bank (ADB).
Growth of India after 1980s was one of the catalysts that spurred the re-emergence of Asia and the country falls into the fast growing, converging economies category of Asia.
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