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Below the perspective of Dr. Manoranjan Sharma, Chief Economist at Infomerics Ratings.

India’s economic growth rose to 8.4 % in the December quarter, raising prospects for the world’s fastest-growing major economy.  Gross domestic product rose 8.4% from a year ago compared with a revised 8.1% in the previous quarter because of double-digit growth in the manufacturing sector. The FY24 estimate was also revised upwards to 7.6 per cent from 7 per cent.

While agriculture declined 0.8% in Q3, as compared with 1.6% growth in Q2, mining grew 7.5%, up from 11.1% in the previous quarter and manufacturing expanded 11.6%, as against 14.4% in the prior quarter. Electricity and other public utilities expanded by 9% versus 10.5%.

Greatly welcome. India is clearly on a high and sustained high growth path.

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