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Below the Perspective on GDP Data by Mr Nish Bhatt, Founder & CEO, Millwood Kane International

"As expected, real GDP grew by 6.2% in Q3 compared to 5.6% in Q2. However, on a year-on-year (YoY) basis, it has slowed from 8.6% last year. The quarter-on-quarter (QoQ) growth is mainly due to increased government spending and a consumption boost, especially during the festive season. However, the YoY decline can primarily be attributed to a slowdown in manufacturing, construction, and electricity.

Moving forward, GDP sustainability will depend on income growth, job creation, and private sector investment. Apart from geopolitical factors, a good monsoon, and a strong performance in the services sector, consumption and services exports will be the key factors in the coming months."

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