mr. basusers the economic advisor to india's government until 2012. the election there is incredible optimism now about india. are people getting added themselves? what should companies be think of when they're thinking of india? >> the optimism i think is right. you should not get ahead of yourself but optimism is nevertheless right. if you look at the last couple of years of the previous government, and i was actually in there, the reforms have slowed down. you seen from 2005-2008, india was growing at 9.5% for anna. through the downturn, the global financial crisis it kept up pretty well than the last two years has dropped and. there were also a slow down in reforms. there was an imminent election. there were corruption scandals breaking which was affecting the temperament endured in the country. there was a lot of just ordinary civil society very upset about this. so this election and there comes a burst of expectation, and if you look at the details, we do expect there will be some reform

mr. basu, you served as economic advisor to india's government till 2012. with the modi election there is incredible optimism about india. are people getting ahead of themselves? what should companies be thinking of when they are thinking of india? >> optimism is right. you should not get ahead yourself. optimism is nevertheless right. if you look at the last couple of years of the previous government, and i was actually in there, the reforms were clear. from 2005 to 2008, india was growing at 9.5% per annum. to the down turn of the global financial crisis it kept up well. the last two years dropped out. there were some global factors in place. there was also a slowdown in reforms. there was imminent election. there were corruption scandals breaking, which were affecting the temperament and mood in the country. there was a lot of ordinary civil society, very upset about this. so with the election there comes a burst of expectation. if you look at the manifesto details and things like that, we

mr. basu, you told me earlier that you've come up with new purchasing power parody index and when china will overtake the u.s. you explain? >> the purchasing power parity, were hugethere organizations, massive organizations that computes that. hosted by the world bank. now isa, it's known expected to overtake the u.s. sometime this year. so my own computation was the growth numbers, projecting forward and looking for the date. a date, 29 i have september, if you are interested. the u.s.y on which economy will be overtaken by i should immediately tell number, is this haven't talked about it yet. it's nowhere nearly as momentous be.ome have made it out to parityrchasing power correction, it means that within china you can buy its goods more cheap than you can american goods within the u.s. but if you look at in the international domain when you're in a third country having to go purchasinghere the power parity is unimportant because you have to pay the price. , having said that it going to ofrta