India expects its economy to grow 7.4% in the current fiscal year, a growth rate that rivals China’s, write Raymond Zhong and Anant Vijay Kala for The Wall Street Journal. The growth rate reflects a strengthening recovery but also a recent radical revision in the way the country calculates its gross domestic product. The Indian statistics ministry was careful to play down any notion of a horse race with Beijing.
If India can outpace its northern neighbour and strategic rival, it would mark a comeback for the South Asian nation, whose economy had until recently appeared to have lost its shine amid corruption scandals and gaping trade and budget deficits.