April 3, 2010 6:07 PM

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India expected to emerge as 3rd largest economy in world by 2050

Experts say, India is expected to emerge as the third largest economy in the world by 2050, after China and the USA. This was concluded in a seminar on 'Exporting Opportunities in India' organised by Dubai Export Development Corporation (EDC) and Dubai Export Academy in Dubai. Experts also concluded that factors that have led to India becoming a target export market is the opening up of its economy and rapid growth of the middle class segment. This has been a major attraction for exporters due to its increasing size and purchasing power.According to report, more than 40 UAE companies attended the seminar. The prominent among them were Chief Executive Officer of State Bank of India Dubai Branch A.J. Vidiaysagar, and Managing Director of Xpertise Unlimited Navin Kapoor. The Indian Consul General in Dubai Mr. Sanjay Verma was also present on the occasion.

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