According to Focus Economics, India is a up and coming, if not world leading economy. However its vast growth has been slowed due to the Government tightening up fiscal spending and entering a demonetizination period. This has seen the economies GDP slow by upwards of 3.2%, leading to massive cash shortages.
For what India lacks, they make up for in their vast population of approximately 1.28 Billion people. Having one of the largest markets in the world means that India is able to attract a to of off shore investment, which has contributed to huge growth in the past 25 years. Business Insider stated in spring 2016 that having such a large population with an average age of 28 means that there is huge potential for growth in the future.
While low oil and commodity prices complemented growth in the Indian economy, they are predicted to raise in the next first quarter of the 2017 financial year. This could put major restraints on the economy forcing a overall slow down in money slow.
However in saying all this Forbes magazine has stated that for the first time India has overcome the British economy. In 2016 Britains GDP was $2.29 trillion US while Indias was $2.30 trillion US. This can be attributed to many deals and the demise of the Brexit.