India's economy logged a record growth in the three months to June, but that came from an extremely low base in the same period last year when the coronavirus pandemic and resultant lockdowns hurt economic activity severely.
Gross domestic product grew 20.1 percent year-on-year in the April to June quarter versus a 24.4 percent contraction in the same period of the fiscal year 2020-21, preliminary estimates from the statistics ministry showed Tuesday. Economists had forecast 20 percent growth. The quarterly gross value added rose 18.8 percent year-on-year versus a 22.4 percent drop in the same quarter last year.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.