India’s gross domestic product grew by 7.7% in the quarter ended March, the government said Thursday. That’s a big jump from the revised 7% growth rate recorded the previous quarter.
It also means India continues to grow faster than China, which posted growth of 6.8% in the first quarter of 2018.
“Rapid growth in agriculture (4.5%), manufacturing (9.1%) and construction sectors (11.5%) contributed to the overall growth,” the Indian government said.
Growth for the 2017-2018 financial year as a whole came in at 6.7%, according to provisional figures.
The latest GDP numbers come amid concerns that rising inflation, fueled by higher oil prices and a weaker rupee, could start to dent growth in India.
The Indian government earlier this month sought assurances from Saudi Arabia, OPEC’s biggest producer, that oil prices would remain “stable and moderate.”