India’s economic growth slows in Q3
India's annual economic growth slowed from 11% in the October-December 2003-2004 period to 6.2% in the October-December 2004-2005 period.
A sharp decline in the growth of agricultural
production contributed to the economic slowdown. In contrast to 18.2% growth during the third quarter of 2003-2004, agriculture
production growth dropped to 1.1% in the third quarter of 2004-2005..
The
manufacturing sector, however, rose 10.4% during the above-mentioned period. The trade, hotels, transport and communication sectors also reported double-digit growth (10.5%) in the third quarter.
GDP (Gross Domestic Product) growth is expected to exceed 7% in the final quarter and 6.9% for the full year.