India on Track to Post World-Beating Growth as Spending Revives
- Statistics ministry sees 9.2% GDP expansion this fiscal year
- Curbs to deal with surging virus cases could hurt growth
Workers in a garment workshop in the Dharavi area of Mumbai, India, on Jan. 5.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
India is set to regain its position as the world’s fastest growing major economy this year, but any euphoria is likely to be tempered by concerns around a resurgent virus outbreak.
Gross domestic product will grow 9.2% in the fiscal year ending March 2022, according to the first official estimate released by the Statistics Ministry Friday. That’s slightly slower than a 9.5% expansion forecast by the Reserve Bank of India as well as the economists surveyed by Bloomberg.