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India’s economy is showing signs of a gradual recovery as its gross domestic product increased at an annual rate of 4.8 percent in the three months that ended in September, according to government figures released Friday.
The growth surpassed the expectations of Reuters analysts, who projected a 4.6 percent rate, and was faster than the 4.4 percent pace seen in the previous quarter, which marked the slowest growth in four years.
“The Indian economy has bottomed out on growth, and I think we are definitely seeing signs of a mild, moderate recovery — not just the gross domestic product numbers but in the results of individual companies,” said Saugata Bhattacharya, chief economist at Axis Bank.