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India's double-digit GDP growth is less than it appears

Economic output has actually grown little from pre-COVID period

| India
Workers carry sacks onto a truck at a wholesale market in Kolkata on July 19: The economy is only slowly catching up to its previous trajectory.   © NurPhoto/Getty Images

Ritesh Kumar Singh is the founder and chief executive of policy research and advisory company Indonomics Consulting in New Delhi.

With India posting a 13.5% jump in gross domestic product for the April-June quarter from a year earlier and expanding bank credit at a similar pace, market bulls are flocking to the nation.

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