Newsline-International | July 2015
WTO lauds India´s economic growth
India´s economic growth has been accelerating in recent years, although it is still below the 10 per cent rate achieved in fiscal year 2010-11. Under the newly-revised series of national accounts released in January 2015, real GDP growth was 6.9 per cent in 2013-14 and estimated to be around 7.4 per cent in 2014-15; these revised figures show a more positive trend and outlook than that based on the previous series. India´s per capita GDP was around $1,500 in 2013-14. This forms a part of a recent report by the World Trade Organisation (WTO) on India.
The Reports says further that the current account deficit has recently been decreasing, to around 1.7 per cent of GDP in 2013-14, mainly due to a decreasing merchandise trade deficit. Trade (exports and imports) in goods and non-factor services as a percentage of GDP was around 53 per cent during the review period.