India’s GDP Surges to 8.4% in Q3 FY24, Beats Estimates

New Delhi: India’s economic engine continues to impress, with the Gross Domestic Product (GDP) for the third quarter of the ongoing financial year (FY24) exceeding expectations and clocking a robust 8.4% year-on-year growth.

This surge marks a significant improvement compared to the 4.3% growth recorded in the same period last year, according to data released by the Ministry of Statistics and Programme Implementation on Thursday.

The official figures, exceeding analyst predictions of below 7% growth, indicate the Indian economy’s continued momentum. This positive performance comes on the heels of a 7.6% GDP growth witnessed in Q2FY24.

The government attributes the strong Q3 growth to robust performance in key sectors like construction (10.7%) and manufacturing (8.5%). These sectors are seen as instrumental in driving the overall GDP growth in FY24.