NEW DELHI – India said its economy grew 7.3 per cent in the last three months of 2015, a rate of expansion that puts the South Asian nation ahead of China’s 6.8 per cent growth during the same period.
The data released Monday by the Indian Central Statistics Office shows a slight downturn for India from the previous quarter, when the country registered growth of 7.4 per cent.
The government has reported quarterly growth rates that have surpassed China’s over the last year. It estimated the annual growth rate for 2015-16 will be 7.6 per cent, a rise from last year’s 7.2 per cent growth in gross domestic product.
The statistics office said the strongest growth is expected to come from the financial sector, tourism and manufacturing, while the agricultural and defence sectors remained weak.