Press Trust of India Posted online: Friday, May 10, 2002 at 1946 hours IST
Shanghai, May 10: Asserting that world economic growth will revolve round India and China, Finance Minister Yashwant Sinha on Friday said GDP is likely to double in the next 15 years in these two countries eliminating mass poverty in Asia.
"I expect that the next 15 years will give us an acceleration of growth, just as the years 1987-2002 got better growth rates when compared with 1972-87 (previous 15 years)," Sinha said at Asia 2015 seminar on the sidelines of ADB annual meeting in Shanghai.
China's GDP grew by 277 per cent over the last 15 years. Taiwan grew by 153 per cent. India grew by 131 per cent and Indonesia which is the 26th fastest growing economy, grew by 106 per cent during the last 15 years.
"Hence, we can perhaps think that the 25 fastest growing countries in the next 15 years might obtain a doubling of GDP, or better," Sinha said: "I think the doubling of GDP that we will get in the next 15 years will essentially eliminate mass poverty in Asia."
