World’s Fastest-Growing Economy May Not Be So Fast After All

India’s statistics may have been painting a far rosier picture of economic growth than the more modest reality of the past decade.

The nation has held the crown of the world’s fastest-growing major economy until recently, but a new study by former Chief Economic Adviser Arvind Subramanian says the expansion was overestimated between 2011 and 2017. Rather than growing at about 7% a year in that period, growth was about 4.5%, according to the research paper, published by the Center for International Development at Harvard University.