India remains fastest-growing large economy, beating China: EIU

By ANI | Dec 16, 2016, 09.52 AM IST

NEW DELHI: The Economist Intelligence Unit (EIU), the research and analysis division of The Economist Group in its global economic outlook in December said that India continues to be the fastest-growing large economy beating China.

Tweeting the highlights of the session, Director of Global Forecasting at the EIU Joseph Lake said, “India remains fastest-growing large economy, beating China. Iran looks good.

Strong showing from Africa: Tanzania, Ghana, Kenya, Rwanda.”

The group however slashed India’s economic growth forecast from 7.3 percent to 6.5 percent in 2016-17 because of cash shortage from “botched implementation of demonetisation”.

It however, said that India remains fastest growing large economy in world as growth will accelerate after liquidity shortage eases and public investment ramps up.