Agencies Posted online: Monday, May 28, 2007 at 1749 hours IST Updated: Monday, May 28, 2007 at 1751 hours IST
Tokyo, May 28: India's economy will overtake the Japanese economy by 2025 to rank third in the world after the United States and China in terms of purchasing power parity, Japan's central bank chief predicted on Monday.
Bank of Japan governor Toshihiko Fukui also urged India to loosen restrictions on capital flows and develop domestic bond markets so as to further integrate itself into the global economy.
"Everyone recognises the large and varied influence India is having on the world," he said told a symposium in Tokyo.
"If we extend the current (growth) rate, India's purchasing power parity will exceed that of Japan by around 2025 and will rank third after the United States and China," he added.
Tokyo, May 28: India's economy will overtake the Japanese economy by 2025 to rank third in the world after the United States and China in terms of purchasing power parity, Japan's central bank chief predicted on Monday.
