According to the UN WESP report, India’s economic growth is expected to surpass China’s economic growth, with GDP projected to zoom by 7.7% in next year. The mid-year update from UN World Economic Situation and Prospects (WESP) states that India’s economy is projected to grow by 7.6% in 2015 and 7.7 per cent in 2016, overtaking China. China is projected to grow by 7 per cent in 2015 and 6.8 per cent next year.

The UN report said growth of world gross product is projected to accelerate slightly from 2.6 per cent in 2014 to 2.8 per cent in 2015. The global economy will continue to grow at a modest pace. The report states that across South Asia, the expansion is expected to be driven by buoyant household consumption and a gradual recovery in investment.