India GDP grows 7.8% in Jan.-March, as manufacturing recovers

Performance beats expectations, but private investment and consumption still weak

Shopkeepers at a wholesale market in Kolkata. India's economic growth beat the 6.7% rise predicted by 54 economist for the January-March period. © Reuters

KIRAN SHARMA and SAYAN CHAKRABORTY, Nikkei staff writers

May 31, 2024 21:33 JST

Updated on May 31, 2024 23:37 JST

NEW DELHI/BENGALURU -- India's economy beat expectations in the January-March quarter to grow 7.8% from a year ago, government data showed on Friday, helped by a resurgent manufacturing sector.

The figure was higher than the 6.7% rise predicted by 54 economists in a Reuters poll. The economy similarly had posted a surprise 8.4% climb in the previous quarter.