3,313,013.0 At the beginning of 2021, when S&P Global Ratings forecast Indian gross domestic product growth at 11% for the coming financial year, the number looked eminently achievable. Last month, the Goods and Services Tax — a good barometer of economy activity — hit 1.41 trillion rupees ($19.1 billion), its highest ever monthly collection. Indeed, it’s been higher than the benchmark Rs. 1 trillion for seven consecutive months and higher than the same month for the last year for eight consecutive months. India’s international merchandise trade reached $34 billion in March, the highest ever, and stayed over $30 billion in April. Many short term economic indicators — auto sales, electricity consumption, highway toll collection — were also pointing to a strong recovery after a crushing 2020.