India to surpass Korean economy within a decade

India to surpass Korean economy within a decade

By agencies   |   Thursday, 31 March 2005, 08:00 Hrs
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SEOUL: India will outstrip South Korea in economic size in less than a decade to become AsiaÂ’s third largest economy and China will become the worldÂ’s second largest economy by 2025, a state-run think tank said Thursday.

The Korea Development Institute (KDI) also warned of the potential for confusion in the international financial market if the U.S. trade-account deficit grows and the Chinese yuan appreciates against the dollar.

In its report on "the possibility of structural change in the global economy," India, Russia and Brazil will account for a combined 7.9 percent of the global economy by 2025, up from 4.1 percent in 2003.

India's economy will grow to account for 2.2 per cent of the world economy in 2015 and 3.1 per cent in 2025.

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