India continues to be the fastest-growing economy and is expanding when other economies are shrinking, Union finance minister Nirmala Sitharaman said today. "All developed economies are showing a contractionary manufacturing PMI, in comparison. Everyone, US, Euro Zone, Canada, Australia, China, etc. are all in the contractionary territory, while we are moving forward," she said, responding to a debate on the state of the economy in parliament. "The third and fourth largest economies (Japan and Germany) contracted (and emerging economies also contracted... In comparison, India's 7-plus per cent growth is significant," she said.