Sun, 11 Nov 2012 14:15:00 GMT | By PTI

Indian economy to grow fastest till 2060

New Delhi: Indian economy is set to expand at the world’s fastest rate over the next 50 years to emerge as a major force globally, but it would still rank as the second worst in terms of prosperity of its citizens.

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Indian economy to grow fastest till 2060 (© Reuters)

Over the 50-year period between 2011-2060, India will register an annual economic growth rate of 4.9 per cent, as per a latest report by Paris-based international grouping of the world’s leading economies, the Organisation for Economic Cooperation and Development (OECD).

India’s per-person GDP (measure of well-being of a country’s citizens) will also grow more than 7-fold during this period, but the country will still rank at second place from the bottom by 2060 in absolute terms, said the report.

India was ranked lowest in terms of per-person GDP in 2011 and its position would change only marginally to second lowest after Indonesia in 2060, while China’s position will improve considerably from third-worst to 16th from the down.

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