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Festival season in India fuels its return to world-beating growth

India showed more signs of a recovery taking hold last month as its festive season kicked off

People buying decorative lights from the market ahead of the Diwali festival at Chandni chowk in New  Delhi, on Sunday.
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The recovery coincides with the start of India’s months-long festive season beginning with Ganesh Chaturthi in September

Karthikeyan Sundaram | Bloomberg
India showed more signs of a recovery taking hold last month as its consumption-driving festive season kicked off, keeping it on track to regain the title of the world’s fastest-growing major economy.
 
An array of indicators compiled by Bloomberg News pointed to a continuing rebound in demand in September, helping keep the needle on a dial measuring so-called animal spirits steady at 5 for a third straight month. Sentiment in the dominant services and manufacturing sectors was strong, thanks to a surge in new orders. Bank loan disbursals also grew as Asia’s third-largest economy slowly emerged from the shadows of