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India GDP growth slows to 6.3% amid stubborn inflation

July-September figure slips into single digits as outlook darkens

A market in Mumbai. India's inflation rate has remained above the target range of 2% to 6% for three consecutive quarters.   © Reuters

NEW DELHI -- India's economic growth slowed to 6.3% year-on-year in the July-September quarter after a double-digit jump in the previous three months, as elevated inflation and global pressures stemming from Russia's war in Ukraine took a toll.

Before the release of the GDP data on Wednesday, a Reuters poll of 43 economists had pegged growth in the second fiscal quarter at 6.2% -- lower than the April-June period's rate of 13.5%, which reflected a correction from a low base and receding infections with COVID-19's omicron variant.

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