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India's economic growth slows to 5.3% in third quarter

  • The Indian economy grew at a rate of 5.3% in the July-September period from last year, but was down from the 5.7% rate of the previous quarter.

    The rate is however better than many analyst expectations, with the service and agriculture sectors doing better than expectation, though the monsoon had gotten off to a weak start.

    The news of the government cutting its holdings in State Bank of India and other state-run banks has also encouraged investors.

     

    Tagged as: Indian economy, July –September, quarter, economic growth, analyst, service, agriculture, holdings, banks, business news