India shrugs off global trade war fears with world-beating GDP growth in Q1

Indian economy may receive a further boost from an anticipated increase in govt spending in coming months, as PM Narendra Modi tries to boost his party's prospects for the general election due in 2019

India’s economy expanded at the fastest pace in nine quarters, as strong domestic consumption and robust manufacturing growth overwhelmed any global trade-war worries.

Gross domestic product grew 8.2 per cent in the three months ended June, from a year earlier, the Statistics Ministry said in a statement in New Delhi on Friday. That was faster than the 7.6 per cent median estimate in a Bloomberg survey of 42 economists. Only one economist, Saugata Bhattacharya of Axis Bank Ltd., accurately predicted the pace.

Reforms and fiscal prudence are serving the economy well and this growth in an environment of global turmoil