India's economic growth expected to accelerate in October-December quarter: Report

India's system was projected to turn astatine a faster gait successful the 3rd 4th of the existent fiscal twelvemonth (October-December 2024) compared to the archetypal fractional (April-September 2024) arsenic affirmative indicators are emerging of economical enactment picking up pace, according to a study by ICRA.

The study states that the preliminary information for November indicates a affirmative trend. The maturation successful energy request has picked up, portion festive play request continues to thrust an summation successful conveyance registrations.

"These trends reenforce ICRA's expectations of a pick-up successful the GDP maturation successful Q3 FY2025 compared to H1 FY2025." Economic indicators related to mobility and proscription person shown important improvement.

Vehicle registrations surged to 32.4 per cent year-on-year successful October 2024, a crisp betterment from a contraction of 8.7 per cent successful September 2024, the study points out.

This summation was fuelled by a beardown request for two-wheelers and rider vehicles. Petrol depletion roseate to 8.7 per cent from 3.0 per cent successful September, and home aerial rider postulation accrued to 9.6 per cent from 6.4 per cent.

Additionally, two-wheeler accumulation grew by 13.4 per cent, obstruction freight improved to 1.5 per cent from a diminution of 0.7 per cent, and diesel depletion recorded marginal maturation of 0.1 per cent aft a contraction of 1.9 per cent successful September.

The study further states that the country's non-oil exports person posted a robust maturation of 25.6 per cent successful October 2024, up from 6.8 per cent successful September. The main contributors to this maturation see high-value manufactured items specified arsenic physics products, engineering goods, chemicals, and readymade garments.

The ICRA's Business Activity Monitor, a composite indicator of economical activity, showed a year-on-year maturation of 10.1 per cent successful October 2024, the highest successful 8 months.

This is an betterment from the 6.6 per cent maturation recorded successful September 2024, contempt challenges from a precocious basal effect, the study states.

The upbeat trends crossed assorted sectors bespeak India's economical resilience and reenforce expectations of stronger GDP maturation successful the coming months, the study added.