India to be world's fastest growing economy

Mumbai, Nov 15 (PTI) India is set to become the fastest growing major economy in the world by 2012 and the third largest by GDP-size in the next two decades, behind China and the USA, a global study by British banking giant Standard Chartered said.

"India would have overtaken Japan and will be trailing the US by a slim margin by 2030. China would be at a comfortable number one position," StanChart's Head of India Research, Samiran Chakraborty said, citing the findings of the 'Super-Cycle Report' here today.

The country's contribution to global GDP will go up to 10 per cent of the total pie of approximately USD 600 trillion, while China's will be 24 per cent, he added.

StanChart expects the country to grow at an annual rate of 9.