The economy expanded at the slowest pace in almost two years in the September quarter, data Friday showed. Market participants expect a pickup in growth in the second half of the fiscal year, especially if the Reserve Bank of India cuts interest rates or slashes the share of deposits lenders must set aside.

India's economy slowed much more than expected in July-September, expanding by only 5.4% year-on-year, data showed on Friday, weighed down by weak urban consumption following a rise in food prices. The growth in gross domestic product was lower than the 6.

The world’s fifth-largest economy grew 5.4% from a year earlier in the third quarter, the slowest pace of growth since the fourth quarter of 2022.

India's economy slowed much more than expected in July-September, hampered by weaker expansions in manufacturing and consumption, which will add pressure on the central bank to cut interest rates. Gross domestic output in the world's fifth biggest economy rose by 5.

India's economy slowed much more than expected in July-September, expanding by only 5.4% year-on-year as growth in manufacturing and consumption decelerated, data showed on Friday. It was the slowest growth in gross domestic product in seven quarters and well below a 6.

September, hampered by weaker expansions in manufacturing and consumption, which will add pressure on the central bank to cut interest rates. Gross domestic output in the world's fifth biggest economy rose by 5.