India to overtake China in 2014: Ernst & Young report

New Delhi: India will overtake China in 2014, according to a forecast by the Ernst & Young's report on Rapid Growth Markets (RGMs). In 2014, India is expected to grow at 9 per cent while China is expected to grow at 8.6 per cent. India and China would probably be less impacted among the 25 Rapid Growth Markets (RGMs) in case of a deterioration of the Eurozone debt crisis. The overall outlook for India remains positive and economic growth will steadily accelerate during 2012. "India's consumption-led economy continues to make the country a highly attractive investment destination in the short to medium term. Its domestic demand-driven growth model has helped the country weather the volatility in the global markets, providing significant growth opportunities to businesses," according to Farokh Balsara, Partner & India Markets Leader, Ernst & Young India.