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India Remains The Fastest-Growing Major Economy, Beating China: The Economist Intelligence Unit
An Indian factory. (MANPREET ROMANA/AFP/Getty Images)
In its latest global economic outlook released in December, the Economist Group’s research and analysis division, Economist Intelligence Group has stated that India continues to be the fastest growing major economy in the world, outstripping China by a significant margin.
"India remains fastest-growing large economy, beating China. Iran looks good. Strong showing from Africa: Tanzania, Ghana, Kenya, Rwanda," director of Global Forecasting at the EIU Joseph Lake, said.
Though the group has trimmed India’s economic growth forecast to 6.5 for the year 2016-17, it said that the growth will accelerate once liquidity shortage eases up and public investment ramps up. For China, the group has lurched down economic growth rate from 6.2 per cent in 2016 to 4.2 per cent in 2017.
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