India defies Iran war oil shock to keep 8% growth on track

India’s stronger-than-expected first quarter growth has bolstered analysts’ confidence that it can sustain its momentum through the rest of the financial year and remain the world’s fastest-growing major economy – even as it remains exposed to high oil prices caused by the US-Iran war. The Indian economy grew 7.8 per c

The latest growth figure was also higher than the Reserve Bank of India’s (RBI) earlier projection of 7 per cent for Q1 FY27. The central bank had estimated quarterly growth at 7 per cent earlier this month, while raising its full-year FY27 growth forecast to 6.7 per cent from 6.6 per cent.