WITH the International Monetary Fund (IMF) data indicating that India’s GDP grew by 10.4 per cent in 2010 versus China's 10.3 per cent, India has for the first time edged ahead of the land of dragon in the growth sphere.
And if projections by official agencies are anything to go by, China is aiming for a 7 per cent growth in the Twelfth Plan period (2011-15) in comparison to India's 9 per cent. This is the first time that India’s growth has gone past that of China since the latter began reforms in the 1980s, a decade ahead of India.
Other major developing economies that showed fast-growth in 2010 included Brazil (7.5 per cent), Mexico (5.5 per cent) and Russia (4 per cent). The fastest growing major economies from among the developed nations in 2010 were Japan (3.9 per cent), Germany (3.5 per cent), Canada (3.1 per cent) and the US (2.8 per cent). Growth was much slower in countries such as France (1.5 per cent) and Italy (1.3 per cent).
Source : Exim News Service - NEW DELHI, April 14