India's Economic Growth Picked up on Rising Government, Consumer Spending
India's economy expanded by 6.2% in October-December, picking up on increased government and consumer spending, official data showed on Friday, and the government said it expected a further acceleration in the current quarter. The stronger rural economy also bolstered the world's fifth-largest economy in the final quarter of 2024, but manufacturing growth remained subdued. India is still the world's fastest-growing major economy, but it faces uncertainties over its trade with the United States.
- This surge in economic activity suggests that the Indian government's recent policy shifts are having a positive impact on consumer spending and investment confidence, which could help boost economic growth in the coming quarters.
- How will India's growing middle class and increasing disposable income influence its consumer spending patterns and shopping habits, particularly when it comes to luxury goods and high-end products?