Employees check the trunk door on the bodywork of a Volkswagen AG Vento automobile on the production line at the Volkswagen India Pvt. India's economy grew at a faster-than-expected pace of 7.8% year-on-year in the January-March quarter, helped by strong growth in the manufacturing sector, and economists expect the momentum to remain strong this year. However, it was higher than the 6.7% growth forecast by economists in a Reuters poll. India's economic growth for the full fiscal year 2023/24 was revised up to 8.2%, the highest among large economies globally, from an earlier government estimate of 7.6%. Manufacturing output rose 8.9% year-on-year in the three months ending in March, compared with a revised expansion of 11.5% in the previous quarter, while farm output growth accelerated to 0.6% after revised 0.4% growth in the previous quarter, the data showed.

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Persons: Narendra Modi Organizations: Volkswagen AG, Volkswagen India, Indian Locations: Chakan, Maharashtra, India