India to be third major economy in 20 yrs: Montek

Planning Commission deputy chairman Montek Singh Ahluwalia on Friday said

India is expected to be the world's third major economy in the next 20 years, after China and the US, said Planning Commission deputy chairman Montek Singh Ahluwalia in Bhubaneswar today.

Delivering convocation address at the KIIT University in Bhubaneswar, Ahluwalia said that India would follow China and the US as the top three global economies in the next 20 years from now.

"China could be in the number one position followed by the USA, and India in the third position with GDP growth rate at about 9 per cent," he said.

Refuting that India's growth story has come to an end, he said, "that this year has been slightly a slower year, not just for India, but for other countries also.

According to Ahluwalia indications  pointed to capita income growing at 7-8 per cent in the next 20 years.