‘India grows, China slows’ theme plays out

India’s economy is experiencing a swift recovery from the Covid-19 pandemic, poised to achieve close to 7% growth this fiscal year. This solid growth is driven by robust domestic demand, in contrast to faltering global growth and geopolitical uncertainty. The latest quarterly GDP growth of 7.6% follows a 7.8% expansion in the previous quarter, resulting in a healthy 7.7% growth for the first half. Multiple agencies and research entities project India to be the fastest growing major economy globally, with growth estimates in the 6.7% to 7% range.