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The IMF predicts a robust growth rate of 7.6% for India’s economy in 2016 and 2017. India now ranks 39th among the world’s most competitive economies, up 16 places from last year – the biggest leap for any country in the World Economic Forum’s Global Competitiveness Report 2016-2017. India is now the second fastest growing services economy in the world, up 10% in the past year, according to a report by the industry body Confederation of Indian Industry (CII) and KPMG.