Some may attribute this to India’s growing population that will turn into workforce while others may give the credit to the Modi government’s reform policy. What is more important is, this is coming from the IMF chief, Christine Lagarde, and as such, it can no more be stamped as a rhetoric of the BJP government. Hopefully India will be able to take advantage of this without seeing its political parties trying to politicize it.
New Delhi: The Indian economy, whose size is USD 2 trillion as of now, is poised to overtake the combined GDP of Japan and Germany in the next four years on the back of recent policy reforms and improved business confidence in the country, IMF chief Christine Lagarde said Monday.
“Indeed, a brighter future is being forged right before your eyes. By 2019, the economy will more than double in size compared to 2009. When adjusting for differences in purchase prices between economies, India’s GDP will exceed that of Japan and Germany combined,” the IMF Managing Director said at a lecture here.
“Recent policy reforms and improved business confidence have provided a booster shot to economic activity,” she said.
Using India’s new GDP series, the IMF expects growth to pick up to 7.2 percent this fiscal year and accelerate further to 7.5 percent next year – making India the fastest growing large economy in the world, she added.
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