India's Economic Growth: Navigating Slowdowns and Strategic Reforms
India's economic growth slightly decelerated in the October-December quarter due to eased government spending and private investment. India remains the fastest-growing major economy, driven by strong consumption and manufacturing. Ongoing reforms and strategic trade agreements aim to bolster India's economic resilience amid international tariff challenges.
India faced a slight deceleration in economic growth during the October-December quarter as government spending and private investment slowed. Despite this, the South Asian nation remains the fastest-growing major economy globally, supported by robust private consumption and strong manufacturing output.
The country's GDP growth was recorded at 7.8% year-on-year, a drop from 8.4% the previous quarter. The revised economic projections for the upcoming years maintain a positive outlook, with expectations of reaching the $4 trillion economy mark soon, as mentioned by Chief Economic Adviser V Anantha Nageswaran.
Amid tariff-related challenges, Prime Minister Modi's administration has accelerated domestic reforms, including consumer tax cuts and labor reforms. A recent interim agreement with the U.S. aims to ease trade tensions. Meanwhile, significant domestic consumption and manufacturing sector growth are driving India's overall economic performance.
ALSO READ
-
There was a time when India was only a consumer of new tech; now we are not just developing them but also setting standards: PM Modi.
-
It's India's strength and results of our reforms that the world's most powerful nations are now coming to us to do trade deals: PM Modi.
-
India discovered its inherent strength in last 12 years; it was always there but we were misled earlier: PM Modi at News18 event.
-
India's GDP Overhaul: Understanding the New Estimates
-
India Launches Nationwide HPV Vaccination Drive to Combat Cervical Cancer
Google News