India’s economy grew by 7.8% in the April-June quarter, exceeding expectations despite U.S. tariffs on Indian imports. Gross value added (GVA) also rose to 7.6%. Consumer spending increased by 7.0%, supported by tax relief and rate cuts. Government spending and capital expenditure also saw growth. However, economists warn that prolonged U.S. tariffs could impact India’s growth, potentially shaving off 0.6 to 0.8 percentage points. Despite the challenges, India remains one of the fastest-growing major economies, with Chief Economic Adviser Nageswaran stating that additional tariffs could be short-lived.

Read more at Yahoo Finance: India’s economy unexpectedly picks up steam, but Trump’s tariff effect looms