India is “by far” the fastest growing economy as GDP growth soars, according to IMF director

The Executive Director of the IMF and former Chief Economic Advisor to India, Dr. Krishnamurthy V. Subramanian, speaks at a press conference.

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India is “by far” the world's fastest-growing economy, IMF Executive Director Krishnamurthy Subramanian said, as the country's GDP growth in the third quarter exceeded analysts' estimates.

At 8.4%, India's economy grew at its fastest rate in six quarters. data showed late Thursday due to strong private consumption and positive manufacturing and construction activity. Reuters estimated growth at 6.6% in the October-December period.