Demonetization of high-value currency notes that rendered 86% of the currency in circulation invalid is sure to have dented demand in a big way. But as far as India’s position within the emerging market (EM) investment basket of foreign investors goes, the country could still be the fastest growing economy, according to Citigroup Inc. The multinational bank expects India’s gross domestic product (GDP) growth to slow to 7.2% in fiscal year 2017 and clock 7.4% in FY18. The next fastest growing economy would be China, forecast to grow 6.6% in calendar 2016 and 6.5% in 2017.
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