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India's economic recovery attains momentum, GDP grows by 7%, says Morgan Stanley report

New Delhi, Feb 26: India's economic reconstruction is anticipated to have attained more force and GDP growth for the December quarter is likely to have quickened to 7 percent, says Morgan Stanley report.

India's gross domestic product (GDP) grew by 6.3 percent in July-September quarter of the fiscal, up from 5.7 percent in the first quarter.
According to the global financial services major, growth in the industry and services sector is expected to have accelerated while growth in the agriculture sector decelerated.

"We expect the economic recovery to have gathered further momentum with GDP growth accelerating to 7.0 percent year-on-year in the December-17 quarter from 6.3 percent in the September quarter," Morgan Stanley said in a research note.

In GVA terms, growth picked up further to 6.7 percent year-on-year from 6.1 percent in the previous quarter, the brokerage said.

According to the report, corporate revenue trends, which track industry GVA growth closely, also improved further in the December quarter.

Moreover, auto and two-wheeler sales posted robust growth in the December quarter beyond what was implied by favourable base effects, while goods exports growth improved further to double-digit levels, it added.

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