India is world’s fastest-growing major economy

The Indian economy has boosted as it grew more than 7 per cent on an annualised basis in the final quarter overtaking China.

Data released yesterday show the economy grew at an annual rate of 7.2 per cent in the final quarter of last year, continuing its bounce back from a sharp slowdown in the middle of 2017. The Chinese economy grew only by 6.8 per cent on an annualised basis over the same period.

Piyush Goyal, the Indian railway minister welcomed the figures and tweeted “ India’s GDP growth momentum continues strongly and sustainably jumps to 7.2 per cent in the 3^rd quarter of 2017-18, makes India the fastest growing large economy in the world.”