Indian economy set to overtake China by 2017

India, Philippines and Vietnam are the new pace setters replacing China, Indonesia and Thailand, helped by

cheaper oil and trading patterns as Chinese economic boom is beginning to fade.

World Bank expect Chinese to dominate the economy until 2017 after which according to private analysts, India is well placed to

outpace China for the top spot.

Indian economic growth o f7.8 per cent in 2015 compared to China’ 7.3 per cent according to HSBC.

India hopes that the pro-business government initiative of Narendra Modi will be able to unlock India’s full economic potential.

The Philippines, is set to expand 6.3 per cent this year and Vietnam has a projected growth of 6.1 per cent. In contrast Indonesia and

Thailand are below 5 per cent, hit by falling demand from China for coal.