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India overtakes China as the world's fastest-growing economy

India
Photo by Natasha Hemrajani / Hindustan Times via Getty Images

India has taken back its claim from China as the world's fastest growing economy, with its GDP rising 7.2% this quarter on the back of a robust industrial rebound, according to The Economic Times. China reported a GDP growth of 6.8%.

Why it matters: The bounce-back is significant and indicates stability in India's eight core sectors, including coal, cement, electricity and steel. But even still, some experts say India's slowdown was self-inflicted — pointing to the government's overnight demonetization of the 500 and 1000 rupee bank notes, for example — and that 7% growth in a country where "a million young people join the job market every month" isn't enough.