India's GDP growth likely stuck nearly three-year low in September quarter

India's GDP growth likely stuck nearly three-year low in September quarterThere are little signs of an early turnaround of the Indian economy as the pace of economy's growth slipped to lowest point in three years in the September quarter, according to a recent poll by Reuters.

As per the median consensus of 39 economists polled by Reuters, India's gross domestic product (GDP) grew just 5.4 per cent year-on-year in the July to September quarter, lower than the 5.5 per cent growth recorded in the previous quarter.

The estimated GDP growth for the September quarter is slightly above the three-year low of 5.3 per cent recoded in the three months ended March this year.

Economists' predictions for the GDP growth for the September quarter ranged from 5.0 per cent to 6.2 per cent.

Commenting on the figures, Capital Economics' Chief Economist Andrew Kenningham said, "There have been no signs of an upturn in India. Available data on industrial production and the PMIs point to little change in growth, while exports have been even weaker in the quarter to September."

The poll has underscored the necessity of implementing politically tricky economic reforms to provide a boost to Asia's third largest economy.

The official GDP data for the September quarter will be revealed on Friday, Nov. 30.