India, Aug. 29 -- India's economy unexpectedly expanded 7.8% year-on-year in the April-June quarter, picking up from 7.4% in the previous three months, according to government data released on Friday.
With that, India remains the fastest growing major economy, as China's GDP growth rate came in at 5.2% and United States' at 3.3% in the three months to 30 June.
Economists polled by Reuters had forecast India's GDP growth rate to ease to 6.7% in Q1, and that the economy would continue to slow due to 50% US tariffs on exports. Instead, the fourth largest economy in the world has expanded to the highest since January-March 2024, when it grew 8.4% year-on-year.
The gross value added (GVA), excluding indirect tax and subsidy, rose 7.6% in Q1...
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