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The recent amalgamation of transformer and convolutional designs has led to steady improvements in accuracy and efficiency of the models. In this work, we introduce FastViT, a hybrid vision transformer architecture that obtains the state-of-the-art latency-accuracy trade-off. To this end, we introduce a novel token mixing operator, RepMixer, a building block of FastViT, that uses structural reparameterization to lower the memory access cost by removing skip-connections in the network. We further apply train-time overparametrization and large kernel convolutions to boost accuracy and empirically show that these choices have minimal effect on latency. We show that - our model is 3.5x faster than CMT, a recent state-of-the-art hybrid transformer architecture, 4.9x faster than EfficientNet, and 1.9x faster than ConvNeXt on a mobile device for the same accuracy on the ImageNet dataset. At similar latency, our model obtains 4.2% better Top-1 accuracy on ImageNet than MobileOne. Our model consistently outperforms competing architectures across several tasks - image classification, detection, segmentation and 3D mesh regression with significant improvement in latency on both a mobile device and a desktop GPU. Furthermore, our model is highly robust to out-of-distribution samples and corruptions, improving over competing robust models.