India's GDP Growth Hits 7.8% in Q2, Outpacing Global Expectations

India's GDP grew by 7.8% in the second quarter, exceeding initial projections and cementing its role as a primary driver of global economic expansion, according to the International Monetary Fund (IMF).

The growth was underpinned by a strong performance in the services sector and a rise in exports. However, the IMF is now monitoring the potential volatility of oil prices and their impact on India's current account and inflation metrics.

The fund will provide an updated economic forecast for India next month, which will likely account for these energy price fluctuations and their effect on domestic fiscal stability.