Key Points
India's economic expansion. likely moderated but remained strong in the September quarter, supported by. robust service activity. and solid urban demand despite a global slowdown dampening..
But forecasters see that as a. minor slowdown. from an exceptionally strong quarter for Asia's third-largest economy, which is expected by the same group of economists to grow more than 6.0% over coming years, currently the fastest among major economies...
Even as an erratic monsoon led to a spike in inflation last quarter, consumer demand - which contributes about 60% of GDP growth - remained strong in a country of over 1.4 billion people, largely driven by urban dwellers...
India GDP growth is forecast to average 6.4% this fiscal year ending March 31 and 6.3% in the following year, driven partly by higher government capital expenditure, according to the wider Reuters poll...
"We expect private consumption growth to recover further as it narrows the gap between rural and urban demand and between goods and services," Upasana Chachra, chief India economist at Morgan Stanley, said in a note...
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