India's economic growth to overtake China's next year, says UN report

New Delhi, May 20: The United Nations have said in a report that India's economic growth is expected to surpass that of China in 2015-16.

The mid-year report of the UN World Economic Situation and Prospects (WESP) released on Tuesday that India's economy is projected to grow by 7.6 per cent this year and 7.7 per cent next year.

China's growth is projected at 7 per cent in 2015 and 6.8 per cent next year.

The report called South Asia's economic outlook as "largely favourable" as most economies are expected to experience a strong growth in 2015-16, thanks to robust domestic consumption and investment and a rise in exports.

South Asia's Gross Domestic Product is also predicted to grow by 6.7 per cent in 2015 and 6.9 per cent in 2016, which is more than the estimated 6.3 per cent in 2014.

In the United States, economic recovery has remained on track and the short-term outlook looks relatively favourable, the report said.

Oneindia News