India Business News: India Inc says 8.4% GDP growth in Oct-Dec quarter FY24 surpassed expectations, driven by manufacturing, mining & quarrying, and construction sectors.
India s GDP growth in the October-December quarter of FY24 has surpassed expectations, driven by double-digit growth in manufacturing and strong performance in mining, quarrying, and construction sectors. The GDP growth was 4.3% in the October-December 2022 quarter, according to data from the National Statistical Office (NSO). The robust expansion came despite geopolitical flashpoints and is supported by structural reforms and improvements in business ease and cost.
Get latest articles and stories on Latest News at LatestLY. India Inc on Thursday said 8.4 per cent GDP growth in the October-December quarter of FY24 has "surpassed" expectations, and the economy is on a high growth trajectory due to sustained reforms undertaken by the government. Latest News | Economy on a High Growth Trajectory Due to Sustained Reforms: India Inc.
Though the top tier firms have been announcing large deal wins over the past few weeks, brokerages believe they are unlikely to translate into a major change in revenue growth forecast of the Indian IT firms.
India s top four information technology firms are expected to post only a marginal increase sequentially in fiscal first-quarter revenue in constant currency, as weakness in the banking and financial services (BFS) sector and persistently high interest rates in Europe and the US will weigh on their results, analysts said.