India’s economy expanded by 7.6% YoY in Q3 2023, surpassing expectations and the central bank’s 6.5% projection. This robust growth secures India’s position as the world’s fastest-growing major economy. Factors contributing to this growth include a surge in manufacturing, increased consumption, and government investment ahead of upcoming elections. Despite six interest rate hikes by the RBI last year, demand remains strong, presenting challenges in controlling inflation. The RBI, which has paused rate hikes for four consecutive meetings, will review its monetary policy on December 8.