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India's GDP Growth rises to 7.7 percent

India's GDP Growth rises to 7.7 percent

India’s gross domestic product grew by 7.7% in the quarter ended March — a jump from the revised 7% growth rate recorded the previous quarter. “Rapid growth in agriculture (4.5%), manufacturing (9.1%) and construction sectors (11.5%) contributed to the overall growth,” the Indian government said.

Rising inflation, fueled by higher oil prices and a weaker rupee, could start to dent growth in India. Earlier this month, the Government of India sought assurances from Saudi Arabia, OPEC’s biggest producer, that oil prices would remain ‘stable and moderate.’

Saudi Arabia’s minister for oil, Khalid Al-Falih, said that he was in intensive discussions with Russia and other OPEC nations to pump more oil to ease global supply concerns.

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