India regained the status of the world's fastest-growing major economy in the October-December quarter, driven by higher government spending and a pick-up in manufacturing and services. Gross domestic product or GDP grew 7.2 per cent in in the October-December quarter from a year earlier, according to government data released today. The growth rate is higher than what the Street had expected. A Reuters poll of more than 35 economists estimated the economy to grow 6.9 per cent in the October-December quarter. China had recorded a growth of 6.8 per cent in the December quarter.