New Delhi: Prime Minister Narendra Modi today lauded India's economic resilience amid global challenges, citing the Gross Domestic Product (GDP) growth numbers for the second quarter. The Ministry of Statistics and Programme Implementation released the GDP data, revealing a robust 7.6% growth, up from 6.2% in July-September 2022.
"The GDP growth numbers for Q2 display the resilience and strength of the Indian economy in the midst of such testing times globally. We are committed to ensuring fast-paced growth to create more opportunities, rapid eradication of poverty, and improving 'Ease Of Living' for our people," Prime Minister Modi said.
The GDP growth numbers for Q2 display the resilience and strength of the Indian economy in the midst of such testing times globally. We are committed to ensuring fast paced growth to create more opportunities, rapid eradication of poverty and improving ‘Ease Of Living’ for our…
— Narendra Modi (@narendramodi) November 30, 2023
India's economic performance in the first half of the fiscal year 2023-24 has positioned it as a positive standout on the global stage. The first quarter of FY24 witnessed an impressive 7.8% year-on-year growth in GDP, reflecting the country's economic strength.
However, recent data from the Index of Industrial Production (IIP) up to September unveils a nuanced picture. While the overall IIP indicates a modest 3.7% year-on-year growth in the output of consumer goods for the first six months of the year, there is a notable decline of 0.7% in the production of consumer durables.
