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Economy

India's economic growth slows to 7.1%

Latest GDP reading down from 8.2%, a blow for Modi as elections near

The rupee's sharp decline and a liquidity crisis in the once-hot shadow banking sector have weakened consumption and investment.   © Reuters
KIRAN SHARMA, Nikkei staff writer | India

NEW DELHI -- India's economic growth softened to 7.1% for the three months ended in September, a slowdown from the previous quarter and a result that could spell trouble for Prime Minister Narendra Modi ahead of upcoming elections.

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