According to India’s Ministry of Statistics, gross domestic product (GDP) increased by 5.4% in the third quarter of 2021.
GDP figures were lower than expected due to rising oil and commodity prices.
Previously, the Indian economy grew by 20.3% in April-June 2021, the first quarter of India’s fiscal year. This is a record-breaking growth since the government started collecting GDP data in 1996.
The GDP figures compare with an unusually low base in the same period in 2020, when the Indian economy contracted by 24.4%, due to the government’s lockdown measures to contain the spread of the coronavirus.
In addition, the Indian economy grew by 8.5% in the July-September 2021 period. This is the second quarter of the Indian fiscal year.