India expected to surpass UK's economy by 2019: Jaitley

New Delhi, Aug 30: Finance Minister Arun Jaitley on Thursday said India is expected to surpass Britain next year to become world's fifth largest economy.

"This year, in terms of size, we have overtaken France. Next year we are likely to overtake Britain. Therefore, we will be the fifth largest (economy)," he said.

Other economies in the world is growing at much lesser rate, he said, adding that India has the potential to be among top three economies of the world in the next 10-20 years.

India's rise is part of a trend that will see Asian economies increasingly dominate the top 10 largest economies over the next 15 years.

The World Bank data puts the U.S. as the world's largest economy (USD 14.6 trillion) for 2010, followed by China, Japan, Germany, France, the U.K., Brazil, Italy, India and Canada in the top ten. However, the 2010 figures were not available for all the countries, including Russia.

PTI