India continued its economic recovery in the first quarter of the year, growing at 7.7 per cent on an annualised basis, underlining its position as the world’s fastest growing big economy.
Government statistics released on Thursday showed that gross domestic product grew 0.7 percentage points faster than the previous quarter, continuing the acceleration seen since last summer, when growth dropped to 5.7 per cent.
The revival in the first three months of 2018 suggests India has put the twin shocks of the demonetisation experiment and the rollout of a national goods and services tax behind it. India overtook China in the final quarter of 2017 to become the fastest growing large economy in the world.
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