BENGALURU- The Indian economy likely returned to a more normal 6.2 percent annual growth rate in July-September after double-digit expansion in the previous quarter, but weaker exports and investment will curb future activity, a Reuters poll showed.
In April-June, Asia’s third-largest economy showed explosive growth of 13.5 percent from a year earlier thanks mainly to the corresponding period in 2021 having been depressed by pandemic-control restrictions.
But with the Reserve Bank of India (RBI) now raising interest rates to tamp inflation running above its target range of 2 percent to 6 percent target, the economy is set to slow further.
The 6.2 percent annual growth forecast for latest quarter in a Nov. 22-28 Reuters poll of 43 economists was a tad lower than the RBI’s 6.3 percent view. Forecasts ranged between 3.7 percent and 6.5 percent.
