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India is currently at $3.3 trillion in GDP. The projection is to reach $5 trillion in 2025 and $7 trillion or more by 2027. The tide has turned. It is India’s time and today’s economic numbers are a harbinger of this
The official GDP growth data hides the reality of tepid growth and decline in good employment.
GDP Q4FY23 numbers today: The Indian economy grew at 4.4 per cent year-on-year in three months to December 2022, much below 6.3 per cent in September.
Markets halted 4-consecutive days winning streak on Wednesday ahead of GDP data, with banking stocks being the top laggards while smallcap stocks outperformed. Despite maintaining outperformance compared to global cues, Sensex fell 0.55% to 62,622.24, while Nifty 50 shed 0.53% to 18,534.40.
Prime Minister Modi hailed the GDP growth figures and said that the Indian economy's resilience in the face of global challenges exemplifies the promising trajectory of the economy.