Country’s GDP grows 7.8% in 1st quarter of current financial year, beating RBI’s projection of 7%

The US has described India as a dynamic, strong and resilient economy after official data showed that India’s GDP grew by 7.8 per cent. In an interview with a news agency, White House Senior Deputy Press Secretary Kush Desai said the growth figures confirmed the Trump administration’s view of India as a fast-growing economic power. He said India’s large and expanding economy offers major opportunities for US companies and investors.
The US administration also wants to encourage American investment in India and greater Indian investment in the United States. Desai said President Donald Trump considers ties with India highly important and has often spoken about his friendship with Prime Minister Narendra Modi. On the proposed India-US trade agreement, Desai said negotiations have moved to technical-level discussions. The two sides are working to resolve details, including product classifications and tariff rules. Desai said the US remains optimistic about the agreement and wants to strengthen both the economic and political partnership with India.