China to remain Asia’s fastest-growing economy until 2017, many private sector analysts believe India will outpace its neighbour as soon as this year.
HSBC forecasts Indian growth of 7.8 per cent in 2015 compared with 7.3 per cent for China.
India is expected to report an annual growth rate of 7.3 per cent in the first quarter of this year when it releases data on Friday, putting it ahead of China’s 7 per cent for the second consecutive quarter. However, much of that is down to a change in the way India calculates growth, which has added about 2 percentage points to the headline figure.
Contributed By Sonia Narula