India is growing with great pace of development and the national leadership is concentrating to put the sectors such as agriculture and power on the line of development now. The next target for India is to achieve 10 percent growth rate. Now, a new report says that Indian economy is all set to overtake the Japanese economy by the year 2025. In this year, India would rank at third place in the world in terms of purchasing power parity. The top two other countries will be the United States and China ranks as first and second place in the list. Bank of Japan governor Toshihiko Fukui has predicted that India would overtake Japan and will be the third country with greatest purchasing power parity. Toshihiko Fukui, governor Japan’ central bank, has insisted on Indian government that India should loosen restrictions on capital flows in India. Further, India should develop domestic bond markets for integrating Indian economy with the global economy. Fukui said that everyone in the world now is recognizing India’s large and speckled influence on the world. If Japan would extend the current growth rate, India’s purchasing power parity would go beyond Japan’s PPP by 2025. At the same time, Fukui also said that India should take steps to reduce the environmental damages and should work to boost energy efficiency for curbing worldwide high-energy prices. Read