Present perfect

The Indian economy is proving its resilience, though the future continues to be tense

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The Indian economy has put up an impressive show in the June quarter with the gross domestic product (GDP) growing at a remarkable 7.8% year-on-year (y-o-y). Gross value added (GVA) clocked an equally strong 7.6% y-o-y growth. The resilience is reassuring at a time when external headwinds, especially the US tariffs of 50%, are threatening to slow the growth momentum. As experts point out, low price deflators have contributed to the high real GDP growth number with inflation being very low. Even accounting for the boost to the headline numbers from the low deflators, it must be said the economy is holding up quite well.