India’s industrial output growth hits five-year high

• India’s industrial output grew 9.8 percent at its fastest pace since October 2010, as measured by the Index of Industrial Production.
• The double-digit growth in the manufacturing sector points to a strengthening industrial recovery.
• India’s economy expanded at an annual rate of 7.4 percent in the July-September quarter, outpacing China’s economic growth.
• Aimed at creating a customs union for India’s 1.2 billion people, the Goods and Service Tax (GST) is the biggest revenue shake-up since independence from Britain in 1947.

Source: EconomicTimes