India GDP Recovers To Pre-pandemic Level

India GDP Recovers To Pre-pandemic Level

Dec. 1, 2021, 7:59 a.m.

India's economy expanded in the July-to-September period for the fourth consecutive quarter of growth.
Asia's third largest economy is nearly back to the level seen before the coronavirus pandemic.

India's government says the Gross Domestic Product surged 8.4 percent, compared with the same quarter last year.

There has been recovery in consumer spending, which accounts for half of India's GDP.

A wide range of sectors remain on the recovery path from the pandemic slump, including manufacturing and construction, as well as tourism and other services.

In May, India was reporting more than 400,000 coronavirus cases a day. But the number has been on the decline, dropping below 10,000 on some days.

The Indian central bank predicts 9.5 percent GDP expansion for the current fiscal year that ends in March, citing a continued upbeat outlook for manufacturers and service providers.

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