India's Q2 GDP Growth Surges to 7.6% on Manufacturing and Mining Boost, Beating Estimates
• India's GDP growth for Q2 FY24 beats estimates at 7.6%, higher than 6.2% in Q2 FY23 and analyst estimates of 6.8%
• Manufacturing sees strong 13.9% growth versus -3.8% last year; mining & quarrying at 10% versus -0.1% last year
• Agriculture growth slows to 1.2% versus 2.5% last year; trade, hotels, transport services at 4.3% versus 15.6% last year
• Electricity, gas, water supply growth at 10.1% versus 6% last year; construction up 13.3% versus 5.7% last year
• S&P Global forecasts India's GDP growth for FY23 at 6.4% versus 6% earlier on robust domestic momentum, but cuts FY24 forecast to 6.4% on higher base effect