India's economic growth increased to 7.4 percent in the July-September quarter. The Gross Value Added (GVA), a new concept introduced by Central Statistics Office (CSO) to measure the economic activity, also increased during the second quarter to 7.4 per cent, from 7.1 per cent in the April-June period.The GDP grew at 8.4 per cent in the July-September quarter previous year while it was 6.7 per cent in the April-June quarter previous fiscal, according to data from the Central Statistics Office. According to the statement, the economic activities which registered growth of over 7 per cent in the second quarter are trade, hotels and transport & communication and services related to broadcasting, financial, insurance, real estate and professional services and manufacturing.