Key Points
Indias real GDP rose 7.8% year-over-year in June quarter, up from 6.1% in March quarter and bolstered by a 6% increase in household consumption and solid capital expenditure and service sector activityMoodys said high-frequency indicators show that the economys strong June quarter momentum carried into July-September as wellWith exports remaining weak against an unfavourable global economic backdrop, Moodys said sustained domestic demand growth is propelling Indias economy..
Moodys said high-frequency indicators show that the economys strong June quarter momentum carried into July-September as well.. Robust goods and services tax collections, surging auto sales, rising consumer optimism and double-digit credit growth suggest urban consumption demand will likely remain resilient amid the ongoing festive season...
On supply side, expanding manufacturing and services PMIs and healthy core industries output growth add to evidence of solid economic momentum, it said.. With exports remaining weak amid an unfavourable global economic backdrop, strong domestic demand will likely sustain growth in the near term..
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