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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.

Workers in a garment workshop in the Dharavi area of Mumbai, India, on Jan. 5.

Photographer: Dhiraj Singh/Bloomberg
Updated on

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.