India GDP data beats expectations; This is what market experts have to say9 min read 31 May 2023, 06:21 PM IST
India's GDP grew by 6.1% in Q4 2022-23, exceeding expectations and raising the yearly growth rate to 7.2%, which is predicted for FY23. While this is good news, ongoing challenges include slowing global economy and lack of private capital expenditure.
According to official figures released on Wednesday, India's GDP rose by 6.1 percent in the fourth quarter of 2022–2023 to raise the yearly growth rate to 7.2 percent from the previous fiscal's 9.1 percent rise. In FY23, 7.2% economic growth is predicted for India. India's exceptional growth rates of 7.2% in FY23 and 6.1% in Q4 show that its economic narrative continues to emerge. Meanwhile, the growth of the eight core industries in April was 3.5% instead of 3.6% (MoM) and 10.4% (YoY). Here are the market analyst's reactions to GDP data.