Home / Knowledge / News / Textiles / India's GDP grows 7.4% in Q2; outpaces China
India's GDP grows 7.4% in Q2; outpaces China
01
Dec '15
India's economy picked up pace in the second quarter of the current fiscal, comfortably outpacing China. According to official data, the Indian economy grew by 7.4 per cent in July-September against China's 6.9 per cent for the same quarter to become the fastest growing major economy.

While India's GDP expanded 7.4 per cent in Q2 from 7 per cent in the previous quarter, growth rate of eight core infrastructure industries slowed to 3.2 per cent in October. But the growth rate for the latest quarter was far below 8.4 per cent recorded in the July-September quarter of the previous fiscal.

Amid global headwinds, Chinese economy has slowed down while other emerging economies of Brazil to Russia are contracting. China expanded by 6.9 per cent growth in July-September while Russia contracted by 4.1 per cent and Brazil is forecast to shrink by 4.2 per cent.

The high growth was driven by a robust 9.3 per cent rise in gross value added (GVA) in the manufacturing sector. Financial services rose 9.7 per cent. Electricity and gas production grew 6.7 per cent while the construction sector expanded 2.6 per cent.

Despite a poor monsoon, agricultural sector did better than expected with a 2.2 per cent rise in GVA against 2.1 year-on-year. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 30th Apr 2017

Government revamping tech mission on cotton

Indian Government is working to revamp the technology mission on...

Apparel/Garments | On 30th Apr 2017

Columbia Sportswear records Q1 net sales of $543.8 mn

Columbia Sportswear Company has announced record net sales of $543.8...

Interviews View All

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X