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Strong Growth For Indian Economy

ByFX Solutions
AuthorJames Chen
Published 12/02/2013, 06:19 AM
Updated 01/01/2017, 02:20 AM

New official data shows the Indian economy saw strong growth in the third quarter of the year.

Having grown by 4.4 per cent in the second quarter, the July to September period saw expansion of 4.8 per cent.

Although the growth figures beat expectations of analysts, it is the fourth quarter in a row that growth has been below the five per cent watermark.

"A combination of weak investment, high inflation and tight monetary policy would not let India's economic recovery gather steam anytime soon," Miguel Chanco, Asia economist at Capital Economics, told the BBC.

The Indian prime minister's economic advisory council has now lowered its growth outlook for the year, with expansion of 5.3 per cent expected for 2013, which is down from its previous forecast of 6.4 per cent.

India's economy has stuttered in recent months and the government has drawn criticism from various quarters for not doing enough to boost the Asian nation's growth.

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