Strong growth in India despite global slowdown: IMF

India, along with Indonesia, showed strong growth despite a global economic slowdown in the final quarter of 2011, according to the International Monetary Fund (IMF).

IMF in its provisional report on Wednesday said the GDP growth of G-20 – a grouping of leading economies of the world – slowed to 0.7% in the October-December quarter, compared with 0.9% in the third quarter.

In the US, GDP growth increased to 0.7% in the fourth quarter, compared with 0.5% in Q3.

"In India and Indonesia growth increased strongly, but slowed in China to 2%, compared with 2.3% in the third quarter," IMF said.

In Japan, economic growth decreased to (-)0.2%, following the strong rebound (+1.7%) in Q3.

"GDP fell by 0.3% in both the European Union and the euro area in the fourth quarter of 2011, the first fall since the second quarter of 2009," it said.

The G-20 nations, that account for over 80% of the global output, has emerged as a strong grouping especially after the financial meltdown in 2008.

Latest G-20 growth numbers have been published as part of Data Gaps Initiative, as agreed by G-20 Finance Ministers and Central Bank Governors.

The process is co-ordinated by the Inter Agency Group on Economic and Financial Statistics -- International Monetary Fund, Bank for International Settlements, European Central Bank, Eurostat, OECD, United Nations and the World Bank.