India’s Growth Beats Estimates Even as US Tariffs Cloud Outlook
India’s economy grew faster than expected last quarter, underscoring its resilience even as President Donald Trump’s steep tariffs cloud the outlook for the rest of the year.
Gross domestic product rose 8.2%in the three months to September from a year earlier, the Statistics Ministry said Friday, beating the 7.4% median estimate in a Bloomberg survey. That follows a 7.8% expansion in the April–June quarter.
These are the first numbers to offer a snapshot of growth since Trump’s 50% tariffs came into effect in August. The punitive levies — the highest among major economies — have hurt sentiment, with manufacturers reporting a slowdown in orders from the US, India’s biggest export market.
Indian Prime Minister Narendra Modi is trying to shore up growth by spurring consumer and business spending. His government introduced major tax cuts in September, to boost spending ahead of the festive season. Private consumption accounts for almost 60% of GDP.
