VCCircle

Here is another big reason to go long on India. India's GDP grew at 9.2 per cent in the second quarter of the current financial year. For the first six months (April-Sept), the growth is 9.1 per cent, the highest in any quarter in any year since 1991-92, according to The Economic Times.

There has been a strong growth in manufacturing - constituting 17 per cent of the GDP - which grew at 11.9 per cent in July-September 2006 compared to 8.1 per cent in the same period of 2005-06.

The agriculture, however, slowed down to 1.7 per cent during Q2 compared to 4 per cent in the corresponding period of last fiscal. Agriculture accounts for a fifth of the Indian economy. Services, trade, hotels, transport and communications grew at 13.9 per cent during the second quarter against 11.0 per cent during Q2 of 2005-06.

The numbers were released by the Central Statistical Organisation, a division of India's finance ministry.

The full press release here.