According to IMF’s World Economic Outlook (WEO) October 2018, India’s growth rate will be at 7.3% in 2018 and 7.4% in 2019. In 2017, the growth rate was 6.7%

This acceleration has reflected a rebound from transitory shocks (demonetization and implementation of GST), with strengthening investment and robust private consumption.

The medium-term growth prospects remain strong at over 7%, benefiting from ongoing structural reform, but have been marked down by just under half percentage point relative to the April 2018 WEO.

If projections are true, then India would regain the tag of fastest growing major economies of the world, crossing China with more than 0.7 percentage point in 2018 and an impressive 1.2 percentage point growth lead in 2019.

China was the fastest growing economy in 2017 as it was ahead of India by 0.2 percentage points.

For the record, the IMF has lowered the growth projections for both India and China by 0.4% and 0.32%, respectively, from April 2018 WEO.

For more: https://www.imf.org/en/Publications/WEO/Issues/2018/09/24/world-economic-outlook-october-2018