Tuesday, May 29, 2007

India's economy to dethrone Japan

This is indeed interesting. The Japanese central bank chief makes a bold prediction!

Tokyo, May 28: India's economy will overtake the Japanese economy by 2025 to rank third in the world after the United States and China in terms of purchasing power parity, Japan's central bank chief predicted on Monday.

Bank of Japan governor Toshihiko Fukui also urged India to loosen restrictions on capital flows and develop domestic bond markets so as to further integrate itself into the global economy.

"Everyone recognises the large and varied influence India is having on the world," he said told a symposium in Tokyo.

"If we extend the current (growth) rate, India's purchasing power parity will exceed that of Japan by around 2025 and will rank third after the United States and China," he added.

1 comment:

@nks said...

hope he's correct .. :)