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World Business Briefing: India: Expansion At Two-Decade High


India’s economy grew at the fastest rate in almost 20 years in its last fiscal year as companies lifted production to meet surging consumer demand. The economy expanded 9.4 percent in the year, which ended March 31, the biggest gain since 1989 and more than the government’s initial estimate of 9.2 percent, the Central Statistical Organization said. India’s economy grew 9.1 percent in the three months to March 31, according to the report, averaging a quarterly pace of 8.8 percent in the last two years compared with 5.7 percent in the 1990s. Manufacturing gained 12.4 percent while mining rose 7.1 percent and electricity output climbed 6.9 percent in the quarter. Agriculture, which accounts for a fifth of the economy, grew 3.8 percent.

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