India’s economy expanded much faster than expected in the latest quarter, buoyed by robust consumer spending and growth in manufacturing and services that outweighed the hit to exports from US tariffs.
GDP rose 8.2 per cent year-on-year in the July to September quarter, according to official data released on Friday. That overshot a 7.3 per cent forecast among economists polled by Reuters and beat the 7.8 per cent rate in the previous quarter.
The latest GDP reading, which cements India’s place as the fastest-growing major economy, landed during a tense period in commercial ties with the US as the two countries struggle to finalise a trade deal.
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