According to the latest Ernst and Young European Attractiveness Survey 2007, emerging economies, including India, will overtake the developed countries in economic growth by 2050, with the popularity of India and China as investment destination is rising while the attractiveness Europe and North America is slipping.

India''s popularity is rising as 26 per cent respondents said the country is amongst their top three preferences in 2007 whereas the figure was just 11 per cent in 2004.

"The seven new global powers by 2050 will comprise the so-called BRIC economies (Brazil, Russia, India and China) together with Indonesia, Mexico and Turkey," says.

These seven emerging countries would overtake the economies of the G7 countries (Britain, Canada, France, Germany, Italy, Japan, United States) in terms of gross domestic product (GDP) but whether India can develop its infrastructure at pace with that of global investment remains to be seen, the survey added.