India's Economy Surges 8.4%, Surpassing Expectations Ahead of Elections

The growth, led by manufacturing and private consumption, positions India as the world's fastest-growing major economy.

India's GDP growth of 8.4% in the last quarter of 2023 outpaces analysts' forecasts, marking the fastest expansion in six quarters.
The strong economic performance is driven by an 11.6% growth in manufacturing and a 3.5% increase in private consumption.
Government initiatives to boost manufacturing and infrastructure spending contribute to the economic surge.
Despite the overall growth, the agricultural sector faces challenges due to monsoon rains and farmer protests for minimum crop prices.
The IMF projects India's economy to grow by 6.5% in 2024, maintaining its lead over China.