India Retains Position As Fastest Growing Economy, GDP Rises 7.7%

India retained its position as the world's fastest growing major economy in the January-March quarter, well ahead of China. India's GDP or gross domestic product growth accelerated to 7.7 per cent in the March quarter - the fastest pace of growth in seven quarters. Strong growth in agriculture (4.5 per cent), manufacturing (9.1 per cent) and construction sectors (11.5 per cent) contributed to the overall growth. Growth for Asia's third-largest economy, reported by the Ministry of Statistics, trumped forecasts in a Reuters poll for annual growth of 7.3 per cent. GDP had grown at a revised 7 per cent in October-December quarter.

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