India annual GDP growth slows to 6.3% in July-September quarter
The growth rate was above the 6.2% forecast by economists for the quarter, the second of India's 2022/23 financial year
India's economy grew by 6.3 percent in the second quarter of the current fiscal, official data released on Wednesday showed.
The gross domestic product (GDP) had expanded by 8.4 percent in the July-September quarter of 2021-22, according to data released by the National Statistical Office (NSO).
Analysts had projected the Indian economy would expand at half of the growth rate of 13.5 percent recorded in April-June quarter this fiscal.
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According to rating agency Icra, the GDP was likely to grow at 6.5 percent while State Bank of India in its report, projected the growth rate at 5.8 percent for July-September, 2022.
Earlier this month, in an article published in the Reserve Bank of India (RBI) bulletin, the GDP growth was pegged at 6.1-6.3 percent in the second quarter of this fiscal year.
China registered an economic growth rate of 3.9 percent in July-September, 2022.
