India's GDP growth of 7.8% in Q1 2023-24, the highest in four quarters, showcases a notable economic performance, reflecting the economy's resilience despite various challenges. The robust growth in the services sector, higher capital expenditure, strong consumption demand, and the resurgence in manufacturing activity stand out as key drivers, underscoring the adaptability of our industries. Despite prevailing elevated interest rates, the economy has managed to not only navigate the headwinds but also capitalize on the opportunities. The convergence of strong services growth and a revival in manufacturing underscores the concerted efforts of various sectors and policies to propel our economy forward. This momentum lays a solid foundation for sustained growth ahead.
