Views On GDP Numbers: India Grows At 6.3% In September Quarter

Views On GDP Numbers: India Grows At 6.3% In September Quarter

Distortions brought on by Covid lockdowns pale in Asia’s third-largest economic system.(File)

Bengaluru:

India posted an annual financial progress of 6.3% in its July-September quarter, far slower than the 13.5% progress reported within the earlier three months as distortions brought on by COVID-19 lockdowns pale in Asia’s third-largest economic system.

The expansion price was above the 6.2% forecast by economists for the quarter, the second of India’s 2022/23 monetary yr, in a Reuters ballot.

Commentary

Garima Kapoor, Economist, Institutional Equities, Elara Capital, Mumbai

“Whilst home progress drivers on companies aspect proceed to stay strong, weakening world demand amid tightening monetary circumstances stays the important thing danger for progress outlook for India within the close to time period. We see India’s FY23 GDP progress at 7.1% and FY24 GDP progress at 6%.”

Devendra Pant, Chief Economist, India Rankings, Mumbai

“GDP progress slowdown in 2QFY23 was on anticipated traces. Beneficial base impact is slowly waning, larger inflation and weak demand – each inside and exterior – are having an impression on GDP progress.”

“GDP progress within the second half is predicted to decelerate additional. Until inflation is underneath management and world demand recovers, it’s troublesome to maintain excessive progress momentum.”

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