India defeated China as the world’s fastest growing economy in 2015 and is expected to gain 7 to 7.5% growth in the New Year, which will provide improvement in the business environment.
While, the New Year will start with a lot of promise, the growth rate could not increase as much as expected, mainly because of the factor of undecided global economy, decline in exports, scarce rain, and an failure of the government to introduced the important bill like GST and land acquisition law.
Financial growth still accelerated to 7.4% quarter of July-September, overtaking China as the world’s fastest growing economy, in terms of sectors like manufacturing, mining and services sectors.
Multilateral lending agency International Monetary Fund (IMF) termed India as a good place in comparison to slowing worldwide economy.
