Economists are trying to gauge the Indian economy’s true strength, as several weak indicators tell a different story than the headline numbers
Women waited to vote in national elections in Delhi last week. Bloomberg News
By Megha Mandavia and Tripti Lahiri
BENGALURU, India—India is set to be the world’s fastest-growing major economy this year, but economists say the country’s headline growth numbers don’t tell the whole story.
The South Asian nation’s gross domestic product grew at more than 8% in its fiscal year ended in March compared with the previous year, driven by public spending on infrastructure, services growth, and an uptick in manufacturing. That would put India well ahead of China, which is growing at about 5%, and on track to hit Prime Minister Narendra Modi’s goal of becoming a developed nation by 2047.