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India’s Economic Expansion Accelerates
India reports its gross domestic product grew 7.4% in July-September compared with the same period in 2014.
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India reports its gross domestic product grew 7.4% in July-September compared with the same period in 2014.
The country’s economy expanded 7.0% in the previous quarter and 7.5% in January-March, surpassing China’s economic growth, according to the government data.
India says its manufacturing output rose 9% in the last quarter compared with a 7% gain in April-June. The financial sector grew 10% from 9% in the previous period.
The impressive growth statistics reflect the government’s introduction in January of a new way of calculating GDP. The system produced an immediate jump in growth rates, but many economists remain skeptical. They complain the system ignores several traditional economic indicators and has been difficult to reconcile with sluggish export volumes and earnings reports.
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