India’s economy grew at an annualized rate of 6.2% in the third fiscal quarter (October-December 2024), the country’s statistics ministry said in a report. The growth rate accelerated from a revised 5.6% in the second fiscal quarter.
Analysts’ consensus forecast, cited by Trading Economics, had anticipated a 6.3% rise in India’s October-December GDP.
Consumer spending, which accounts for about 60% of the country’s GDP, rose 6.9%, government spending rose 8.3% and business investment rose 5.7%. Exports jumped 10.4%, while imports fell 1.1%.
Growth in India’s manufacturing sector accelerated to 3.5% last quarter from 2.1% a quarter earlier, while the mining sector climbed 1.4% after a 0.3% decline. The utilities sector rose 5.1%, the agriculture sector rose 5.6% and the construction sector rose 7%.
Indian authorities now expect the country’s GDP to grow by 6.5% in the current fiscal year, which ends in March, rather than 6.4% as previously expected. Last fiscal year, the country’s economy grew by 9.2%.
Earlier, the analytical center Experts Club analyzed the level of debts of the world’s countries to their GDP, video-analysis is available in dynamics from 1950 to 2023, –
https://www.youtube.com/shorts/oT_5cTOnM8k
