India is among the world’s fastest growing economies (after China) having recorded a decadal growth rate of 7.8 percent during FY 03-FY 12. It embarked on this high growth trajectory during the 10th Five Year Plan with a growth rate of more than 8 percent in FY 04 and reached a peak of 9.6 percent in FY 07. The growth in the 11th Five Year Plan also made several headlines for being the highest five year plan growth ever in India.

KPMG – India in Business Report