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India to remain fastest-growing major economy, but demand uneven

Reuters · 1y

India's economic growth is expected to have moderated but remained strong in the September quarter, driven by robust service activity and solid urban demand. Despite a global slowdown affecting export growth, the country's GDP is forecasted to have slowed to 6.8% in Q3, from 7.8% in the previous quarter. Domestic demand, particularly from urban dwellers, has been the key driver of economic activity, compensating for weak external demand. India's GDP growth is projected to exceed 6% in the coming years, outpacing most major economies.