Has India's GDP taken a turn for the better or worse? Depends on how you look at it
India’s economic growth i s slowing. The question is how badly. The October-December Gross Domestic Product (GDP) growth of 4.4 percent was the slowest in three quarters. What’s worse is this growth comes on top of a modest 5.2 percent gain in the corresponding period of FY22.
The internals of GDP growth data give more reason to worry. Manufacturing Gross Value Added (GVA) shrank 1.12 percent, the second straight quarter of contraction for the sector. One more quarter of contraction would mean India has a manufacturing recession underway. Analysts believe the odds of this happening are high.