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India continues to be fastest growing large economy: EIU

By Religare
|

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, said media reports.

India continues to be fastest growing large economy: EIU
Commenting on the issue, 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 report 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.

The report also warned that the health of the Chinese economy remains the biggest risk to the global economy as growth in China will come down from 6.2 percent in 2017 to 4.2 percent in 2018.

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