ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Economy

India's GDP expands 8.4% in July-Sept. as COVID recedes

Vaccine rollout and eased restrictions aid recovery but omicron looms

People shop at a crowded market in Mumbai on Oct. 28, ahead of a Hindu festival as COVID restrictions have eased.   © Reuters

NEW DELHI -- India's economy grew 8.4% in the July to September quarter as the recovery gained momentum, aided by a sharp drop in COVID-19 infections, a stepped-up vaccination drive and the easing of pandemic restrictions, official data released on Tuesday showed.

This is in line with a Reuters poll of 44 economists ahead of the data release, which had put the median year-on-year growth forecast at 8.4% for the three months through September -- the second quarter of the financial year that began in April. In the previous quarter, India's gross domestic product ballooned 20.1%, mainly owing to the low base in April to June 2020, when the economy shrank by an unprecedented 24.4% as India imposed one of the world's strictest lockdowns.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more