India tops the list of the fastest growing economies in the world for the coming decade and is projected to grow at 7.9 per cent annually, ahead of China and the US, according to a Harvard University report.


The Centre for International Development at Harvard University said in new growth projections yesterday that countries that have diversified their economies into more complex sectors, like India and Vietnam, are those that will grow the fastest in the coming decade.


"India tops the list as the fastest growing country for the coming decade, at 7.9 per cent annually, in the economic complexity growth projections. India has made inroads in diversifying its export base to include more complex sectors, such as chemicals, vehicles, and certain electronics," the report said.


It said that India's productive capabilities far exceed expectations for its current income level, which contributes to the projection of rapid growth for the coming decade.


The researchers also find India ranks the best on the criteria termed the Complexity Opportunity Index, which measures how easy it is to redeploy existing knowhow to enter new complex products. -- PTI