Services sector fuels India’s economic growth

Solid numbers: Customers buy fruits and vegetables at a market in Ahmedabad, India. The country’s GDP recorded the highest growth in a year in the second quarter. — Reuters

New Delhi: India’s economy is expected to shine in its latest report card on strong services growth and a pick up in manufacturing despite elevated interest rates.

Gross domestic product (GDP) is estimated to have risen 7.8% in the three months to June from a year ago, according to the median estimate in a Bloomberg survey ahead of yesterday’s data. This is the fastest pace in a year and exceeds a 6.06% expansion in the three months ended March.