India’s GDP growth estimated at 7.8% in Oct-Dec following data revamp

India's government announced in New Delhi on February 27 that the country's economy grew 7.8% in the October-December quarter compared to the same period a year earlier, following an 8.4% growth in the previous quarter, as they unveiled a revised series of national output data. The revised GDP figures mark a significant change in India's economic measurement methodology, reflecting the government's efforts to more accurately capture the country's economic activities. This latest growth rate places India among the world's fastest-growing major economies, demonstrating resilience despite global economic uncertainties. The previous quarter's 8.4% growth had already signaled strong economic momentum, making the slightly slower but still robust 7.8% expansion in the final quarter of the year noteworthy. Economists view these figures as an indication of India's continued economic strength, with the services sector particularly showing vigorous performance. The data revision, which incorporates newer methodologies and more comprehensive sectoral coverage, aims to provide a more realistic picture of India's economic landscape and will likely influence policy decisions and future economic planning.