1 Dec 2012

Growth slowing in India

7:10 am on 1 December 2012

India's growth rate slowed in the July - September quarter, putting pressure on the government to implement more reforms and ease monetary policy.

The economy grew by 5.3% from a year earlier. That was down from a rate of 5.5% in the previous three months.

The BBC reports India has taken various steps, including opening its retail and aviation sectors to foreign investment, in an attempt to boost its growth rate.

The latest growth figure matched that seen in the first quarter of the year, which was the lowest rate for three years.

The Reserve Bank of India has resisted calls to lower borrowing costs, saying its focus is to keep inflation under control.