India's Jan.-March GDP growth slows sharply to 5.3%, well below forecasts

MUMBAI (MarketWatch)
Weighed down by slower manufacturing, India's economy grew at a 5.3% pace in the quarter ended in March, sharply lower than in the previous quarter and well below forecasts
Economists surveyed by Dow Jones Newswires expected growth to come in at 6.1%, matching growth in the October-December quarter
Following the report, the benchmark Sensex  fell 1.3% and the rupee traded near record lows