Indian economic growth slows down to 6.3% in September quarter

India’s economy grew 6.3 per cent in the July-September quarter, down from 13.5 per cent in the previous quarter, according to the official data released today.

The gross domestic product (GDP) had expanded by 8.4 per cent in the July-September quarter of 2021-22, according to data released by the National Statistical Office (NSO).

Analysts had projected the Indian economy would expand at half of the growth rate of 13.5 per cent recorded in April-June quarter this fiscal.

According to rating agency Icra, the GDP was likely to grow at 6.5 per cent while State Bank of India in its report, projected the growth rate at 5.8 per cent for July-September, 2022.

Earlier this month, in an article published in the Reserve Bank of India (RBI) bulletin, the GDP was estimated to grow at 6.1-6.3 per cent in the second quarter of this fiscal year.

China registered an economic growth rate of 3.9 per cent in July-September, 2022.