India's economy is up by 8.4 percent as signs of recovery emerge

India's economy grew at an annual rate of 8.4 percent, the latest sign of an economic recovery in Asia's third-largest economy.

India's economy is up by 8.4 percent as signs of recovery emerge

The Indian Government announced on November 30 that the Indian economy grew at an annual rate of 8.4 percent in the July-September quarter, showing the latest sign of Asia's economic recovery. The country suffered one of the most significant setbacks among major economies in the previous fiscal year.

In the same quarter a year ago, the economy contracted by 7.4 percent, hampered by rising COVID-19 cases and a stringent nationwide lockdown that lasted months and dealt a significant blow to economic activity.