December, marginally below expectations but faster than in the previous quarter on the back of increased government and consumer spending, data released on Friday showed. The growth in gross domestic product was slightly lower than the 6.

In the three months to December, gross domestic product likely expanded by 6.3% from a year earlier, according to a Reuters' poll. But that would still be lower than the central bank's estimate of 6.8%.

India is now less open to trade than it was a decade ago. While services exports, particularly in IT and BPO, have performed well, the overall trade share in the economy has declined