India is on track to surpass Britain next year to become the fifth largest economy in the world and to emerge among the "big three" global economies by 2040, Finance Minister Arun Jaitley said on Thursday.
He said while India's per capita income may still be modest, but the size of the economy was very large and growing at a fast pace.
"This year, in shear size, we have overtaken France. Next year, we're likely to overtake Britain. And therefore we will be the fifth largest (economy in the world)," Jaitley said at the inauguration of the new building of Competition Commission of India.