Mumbai, Nov. 14 -- Organization of the Petroleum Exporting Countries or OPEC has stated in a monthly update that India's economy has shown ongoing steady momentum over the past weeks, following strong economic growth in 1H25 of 7.4%, y-o-y, in 1Q25, and 7.8%, y-o-y, in 2Q25, driven by strong private consumption and solid expansion in the services sector. This comes despite global uncertainties and ongoing trade-related disputes with the US, following the US's decision to raise tariffs on Indian imports to 50%, compared with an average tariff rate of less than 3% for India in 2024. Manufacturing activity improved in October, alongside sound momentum in services.

Following strong growth in 1H25 and expected continued sound momentum in 3Q25...