สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 29 มีนาคม 2555
India to surpass China, will become world's largest economy by 2050: Report
Surpassing China, India will become the world's largest economy by 2050, says a report.
As per the report, Indian economy will reach $ 85.97 trillion size in terms of purchasing power parity by 2050, while the Chinese GDP would be $ 80.02 trillion during the same period.
The US -- currently the world's largest economy -- is expected to have a GDP of $ 39.07 trillion by 2050.
Other nations in the top ten list of world's largest economies would be Indonesia (4th), Brazil (5th), Nigeria (6th), Russia (7th), Mexico (8th), Japan (9th) and Egypt (10th).
In terms of growth from 2010-2050, India would be the second fastest with its economy growing at the rate of eight per cent in the period.
With a pace of 8.5 per cent, Nigeria would be the fastest growing economy during the same period, the report said.
In 2010, India was world's fourth largest economy with a value of $ 3.92 trillion compared to China's $ 9.98 trillion and America's $ 14.12 trillion.
The report named Surat and Nagpur among fast-growing cities to watch in 2050. While Mumbai is ranked 16th, New Delhi is ranked 20th in the list of cities surveyed in terms of economic activity, political power, quality of life, and knowledge and influence.
(Source: Economic Times, Times of India, Moneycontrol, Indian Express)
BRICS Summit: Trade, political issues to be discussed today
India is all set to play host to world leaders that include Brazilian President Dilma Rousseff, Russian President Dmitry Medvedev, South African President Jacob Zuma and Chinese Premier Hu Jintao, at the fourth BRICS summit on Thursday.
Trade and political issues are expected to be the primary talking points at the summit.
It was an idea initiated by Russia in 2006, BRICS now accounts to $ 230 billion of intra-trade. And as leaders from the BRICS nation arrive in India, all eyes will be on new prospects that the body can offer.
The main highlights of the summit will be establishing a permanent headquarter for BRICS.
But there are areas where BRICS nations already have disagreements:
- BRICS Development Bank, Russia, Brazil and South Africa support it but China is reportedly in disagreement over its structure and functioning.
- Country wise resolutions like in case of Syria, Sri Lanka, where India, South Africa and Brazil agree but China and Russia disagree.
- Also on UNSC reform, where India considers itself as a potential candidate but China has openly supported South Africa.
(Source: Economic Times, Business Standard, Hindustan Times, IBNLive, NDTV)
BRICS summit focuses on new development bank
The leaders of the BRICS countries - Brazil, Russia, India, China and South Africa - are attending the fourth meeting of the bloc, a key non-Western alliance that is looking to extend its influence.
Top of the agenda was the creation of the grouping's first institution, a so-called "BRICS Bank" that would fund development projects and infrastructure in developing nations.
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The lead-up to the gathering at a luxury hotel in the centre of the Indian capital saw demonstrations by hundreds of Tibetan exiles protesting against the presence of Chinese President Hu Jintao.
On Monday, a 27-year-old activist set himself alight during an anti-Beijing demonstration before running screaming down a street in gruesome scenes captured by media.
He died on Wednesday, becoming the first person outside China to self-immolate and adding his name to a list of 29 others who have killed themselves since March to protest alleged repression by China in Tibet.
The presence of the 80,000-strong exiled Tibetan community in India, headed by spiritual leader the Dalai Lama, is a constant source of friction between India and China and their relations remain prickly despite growing trade.
The rivalry between the world's two most populous nations is seen by critics as one of the main problems for the BRICS bloc, as well as the vast distances between members and their different political and economic systems.
(Source: Economic Times, Business Today, Times of India, IBNLive, ZeeNews)
Economic Section
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