GDP: Reflecting India’s Growth and Development Prospects

The Indian equity market continues its remarkable ascent, starting the month with substantial gains and once again reaching its all-time high. A key catalyst behind this surge is the recently released GDP data, which revealed an impressive 8.4 per cent growth for India’s GDP in the third quarter of FY24, surpassing even the most optimistic forecasts. Consequently, global agencies are busy revising their GDP growth projections for India, with Moody’s Investor Service upgrading the country’s GDP growth rate to 6.8 per cent from 6.1 per cent for the year 2024.