India will beat China as fastest growing eco – Montek

By Poonam Singhal on 4 February, 2010, 10:05 pm

Planning Commision deputy chairman Montek Singh Ahluwalia is confident that India will beat China as the fastest growing economy in the World. He said India has not achieved its full potential yet. We still need to touch the peak of growth potential, which is easily 9% – 10%.

He says, “If India accelerates to say 10% & China begins to decelarate, you would have a situation where India grows faster than China”.

To get some facts, India had been growing by around 9% till the global economic slowdown hit us in 2008-09. It got slowed down to 6.7% during 2008-09.

India grew by 7.9% in the July-Sep 2009 quarter.

For the current fiscal 2009-10, FM, Pranab Mukherjee expects a growth of 7.75%.

In the quarter ending December, China has grown at 10.7%, retaining its position as the fastest growing eco in the world.

But Montek says India’s outlook to the global investor community has changed and hence India can take on China.

You may be interested in these articles:

Consim Info which runs BharatMatrimony is among the fastest growing technology companies in Asia : Murugavel Janakiraman rightly predicted the need for the Indian market a decade ago and founded a internet company called Bharat Matrimony.... The company later got renamed as Consim Info and its now the parent company for few leading Internet properties.Acknowledging Consim Info's success story and fastest annual revenue growth rate...

Sapient is Fortune’s 45th Fastest Growing company – Ranks #2 in Profit growth : PR NEWS: Sapient (NASDAQ: SAPE), a global integrated marketing and technology services firm, has just been named the 45th Fastest Growing Company by Fortune magazine, a 43-spot improvement over the 2009 list, which ranked Sapient at #88. Of the 100 companies named to the list this year, Sapient was ranked...

Salesforce.com in Fortune’s “100 Fastest-Growing Companies” list : PR NEWS: Salesforce.com (NYSE: CRM), the enterprise cloud computing company, announced it has been ranked fourth on FORTUNE’s 2010 “100 Fastest-Growing Companies” list. The full list and related stories appear in the Sept. 6, 2010 issue of FORTUNE, available on newsstands Monday, Aug. 23, and now at money.cnn.com/magazines/fortune/fortunefastestgrowing/2010/index.html. Comments on...

Google to pull out of China: China unperturbed : Internet giant google has locked horns with the largest of the growing economies in the world, China. Apparently, the issue is about censorship. In China the internet is censored and controlled by the state. Due to this, the US based internet giant had threatened to quit China. When everyone thought...

World’s fastest Car to be launched in India : All you racing freaks are in for some real good news. The fastest car in the world Ultimate Aero is all set to hit Indian roads with a bang. But with a price tag of Rs 6 crore , the most expensive car ever to be sold in India. But...