India GDP growth to pip China: Ernst & Young
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India is expected to clock higher GDP growth than China in 2013-14. This has been stated in a report by Ernst and Young in its latest report.
The forecast pegs India's GDP growth rate at 9.5 percent followed by nine percent by China in 2013. Similarly, the report says that India will record growth of nine percent as compared to 8.6 percent by China in 2014.
The report adds that the growth rate in the current fiscal will be around 7.2 percent in India as compared to 8.2 percent achieved last year.
The report further says that India's domestic demand driven growth model has helped the country face the volatality in global markets. It also says that high savings and investment rates have also proved helpful for India.
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