India’s GDP Grows by 7.6% in Q2, Continues to Outpace China
New Delhi: According to official data released on Thursday, India’s economy grew by 7.6% in the September quarter, surpassing the 6.2% growth rate in the same period last year. This makes India the fastest-growing major economy, as China’s GDP grew by 4.9% in the July-September quarter.
The National Statistical Office (NSO) reported that the agriculture sector’s Gross Value Added (GVA) recorded a growth rate of 1.2%, a decrease from 2.5% in the previous quarter of 2022-23. However, the manufacturing sector experienced a significant boost, with GVA growth of 13.9% in the second quarter of the current fiscal year, compared to a decline of 3.8% last year.
During the April-September period of 2023-24, India’s GDP growth stood at 7.7%, lower than the 9.5% growth seen in the first half of the previous financial year. The GDP growth rate for the first quarter of the current fiscal year remained unchanged at 7.8%.
India’s economic performance is particularly impressive considering the global economic challenges posed by the ongoing pandemic. The country’s ability to sustain high growth rates reflects its resilience and the effectiveness of government policies aimed at boosting key sectors.
(Note: This article is published from a syndicated feed and has not been edited by NDTV staff, except for the headline.)
