GDP growth down from 20.1% record annual increase seen in previous quarter.
ANKARA (AA) – India’s economic growth slowed to 8.4% during the July-September period, according to data released Tuesday by the National Statistical Office.
The gross domestic product (GDP) growth is down from the 20.1% record annual increase posted in the previous quarter.
But it is up from a 7.4% contraction that came in the July-September quarter last year during the coronavirus pandemic.
India’s GDP contracted 24.4% from April – June in 2020 during lockdowns.
In the latest quarter, the agriculture sector posted a 4.5% growth, while the manufacturing industry showed a 5.5% increase.
Production in eight infrastructure sectors also saw a rapid growth of 7.5% in October, according to the Ministry of Commerce and Industry.
The eight key industries — coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity — represent more than 40% of the country’s index of industrial production.