Posted 10/4/2023, 2:39:00 PM
Indian Economy Grows 7.8% in Q1 2024 on Surge in Investment and Manufacturing
- Indian economy grew 7.8% in Q1 of 2024, buoyed by strong investment
- Capacity utilization in manufacturing hit decade high of 76.3% in March 2023
- Investment has grown at 8% average over last 13 quarters, outpacing consumption and trade
- Contrary to perception, PSUs not private firms are the capital expenditure laggards
- SBI chief economist argues investment has been strong though seen as weak area