India's GDP grows 6.3 percent, up from 5.7 percent

Markets Associated Press

India's economy grew 6.3 percent in the quarter ending in September from a year earlier, rebounding from 5.7 percent growth in the previous quarter, according to government statistics released Thursday.

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The statistics showed strong growth in trade, hotels, transport and communication. Agriculture, forestry and fishing were relatively flat.

The GDP figures compared the three-month period with the same period the previous year.

India has recently undergone major economic changes.

Just over a year ago, the government removed 86 percent of the currency from circulation without warning in an effort to fight money laundering and tax evasion.

Demonetization, as it was called, was followed eight months later by another huge change. The nation of 1.3 billion people replaced its complex system of federal and state taxes with a single goods and services tax, or GST.