'India will soon start to outpace China'

'Doing rather well'

India may have a long way to go before becoming as rich as China but its economy will soon start growing faster, thanks to a young workforce and a brand of capitalism that outweighs its much derided democracy, according to the respected Economist magazine.

'Despite the headlines, India is doing rather well. Its economy is expected to expand by 8.5 percent,' the magazine says in its latest cover story, referring to the bad press the country received ahead of the Oct 3-14 Commonwealth Games.

'It has a long way to go before it is as rich as China - the Chinese economy is four times bigger - but its growth rate could overtake China's by 2013, if not before,' the magazine says.

Text: IANS

Images: AP

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