India to be third largest economy in ten years

India is growing faster because of RBI buying back FX reserves and interest rates coming down, according to Indranil Sen Gupta, BofA Securities. He adds that India should do better than other countries even if there is a global downturn, given that we have sufficient FX reserves that de-risks us from the rest of the world.
We see the economy growing at 9% nominal, that is 6% growth, 5% inflation, and 2% depreciation for the next two years. There are three drivers. The demographic dividend which we have all been talking about for the last 15 to 20 years is actually going to kick in from 2020 and help savings and investments.