‘India to overtake US, Japan by 2050’

NEW DELHI: 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, says a study.

“The seven new global powers by 2050 will comprise the so-called BRIC economies together with Indonesia, Mexico and Turkey,” says the Ernst and Young European Attractiveness Survey 2007.

These seven emerging countries would overtake the economies of the G7 countries — Britain, Canada, France, Germany, Italy, Japan, US — in terms of GDP, but whether India can develop its infrastructure at pace with that of global investment remains to be seen, the survey added. The developing economies will outdo the G7 if it manages to mend the loopholes regarding transparency, fairness and infrastructure development.