India can be 5th largest economy by 2020: Shashi Tharoor
Thursday, 25 February 2010, 15:28 IST   |    21 Comments
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India can be 5th largest economy by 2020: Shashi Tharoor
New Delhi: According to Minister of State for External Affairs Shashi Tharoor, India could become the world's fifth largest economy by 2020 in Gross Domestic Product terms, after the U.S., China, Japan and a united Europe, reports UNI. Tharoor added that the country could move up to third place within a decade thereafter. "In the last fiscal year, India's GDP grew around six percent in every quarter of what has been described by economists as the most difficult 12 months in recent history. In our most recent quarter, the figure was 7.9 percent. As against this, most countries in the world suffered negative growth rates in at least one quarter in the last two years," said Tharoor. According to UNI, Tharoor added that although the country celebrates its IT triumphs, but still does not have jobs for over 10 million people. "Many of our urban youth rightly say with confidence that their future will be better than their parents past, but there are Maoist insurgencies violently disturbing the peace in 165 of India's 602 districts and these are largely made up of unemployed young men," the Minister added.

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