The Indian economy advanced 6.6 percent year-on-year in the last three months of 2018, below a downwardly revised 7 percent expansion in the previous period and market expectations of 6.9 percent. It is the lowest growth rate in five quarters as weak consumer demand and government spending held back expansion. GDP Annual Growth Rate in India averaged 6.21 percent from 1951 until 2018, reaching an all time high of 11.40 percent in the first quarter of 2010 and a record low of -5.20 percent in the fourth quarter of 1979.

GDP Annual Growth Rate in India is expected to be 6.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in India to stand at 6.90 in 12 months time. In the long-term, the India GDP Annual Growth Rate is projected to trend around 6.50 percent in 2020, according to our econometric models.

India GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-08-31 12:00 PM GDP Growth Rate YoY 8.2% 7.7% 7.6% 7.5%
2018-11-30 12:00 PM GDP Growth Rate YoY 7.1% 8.2% 7.4% 7.4%
2019-01-31 12:15 PM Fiscal Year GDP Growth Final 7.2% 8.2% 7.5%
2019-02-28 12:00 PM GDP Growth Rate YoY 6.6% 7% 6.9% 7%
2019-05-31 12:00 PM GDP Growth Rate YoY 6.6% 6.5%
2019-08-30 12:00 PM GDP Growth Rate YoY 6.7%
2019-11-29 12:00 PM GDP Growth Rate YoY 6.6%



India GDP Grows Less than Expected in Q4

The Indian economy advanced 6.6 percent year-on-year in the last three months of 2018, below a downwardly revised 7 percent expansion in the previous period and market expectations of 6.9 percent. It is the lowest growth rate in five quarters, due to a slowdown in both private and public expenditure, manufacturing and agriculture.

Slower growth rates were seen in household spending (8.4 percent compared to 9.8 percent in Q3); government consumption (6.5 percent compared to 10.8 percent) and inventories (3.9 percent compared to 4.2 percent). On the other hand, gross fixed capital formation rose slightly faster (10.6 percent compared to 10.2 percent). The was also lower negative contribution from external trade as exports increased at a faster 14.6 percent (13.9 percent) and imports slowed (14.7 percent compared to 21.4 percent).

Household spending accounted for 59.1 percent of the GDP (56.1 percent in Q3); gross fixed capital formation for 33.1 percent (32 percent in Q3); public expenditure for 9.7 percent (11.9 percent in Q3); and changes in stocks for 1.1 percent, the same as in Q3. Exports accounted for 21.4 percent (21.4 percent in Q3) while imports subtracted 25.8 percent (-26.6 percent in Q3).

Gross Value Added, that is, GDP excluding taxes expanded 6.3 percent, below 6.8 percent in the previous period. A slowdown was seen in manufacturing (6.7 percent compared to 6.9 percent in the previous period); agriculture, forestry and fishing (2.7 percent compared to 4.2 percent); and public administration and defence (7.6 percent compared to 8.7 percent). Also, trade, hotel, transport, communication and services related to broadcasting went up 6.9 percent, the same as in Q3. On the other hand, financial, real estate and professional services (7.3 percent compared to 7.2 percent); and construction (9.6 percent compared to 8.5 percent) rose faster; and mining rebounded (1.3 percent compared to -21 percent). 

The government revised down its estimate for FY 2018/2019 (April 2018 to March 2019) growth to 7 percent from 7.2 percent earlier projected.


Joana Taborda | joana.taborda@tradingeconomics.com
2/28/2019 12:54:53 PM



India GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.50 1.80 5.80 -1.80 percent [+]
GDP Annual Growth Rate 6.60 7.00 11.40 -5.20 percent [+]
GDP 2597.49 2274.20 2597.49 36.54 USD Billion [+]
GDP Constant Prices 35001.62 34412.77 35001.62 7500.43 INR Billion [+]
Gross National Product 13954956.00 12865461.00 13954956.00 8659505.00 INR Tens Of Million [+]
Gross Fixed Capital Formation 11575.43 10998.32 11575.43 2021.90 INR Billion [+]
GDP per capita 1963.55 1862.40 1963.55 304.20 USD [+]
GDP per capita PPP 6426.67 6095.70 6426.67 1737.60 USD [+]
GDP From Agriculture 5862.40 3550.64 5862.40 2690.74 INR Billion [+]
GDP From Construction 2754.48 2535.88 2754.48 1861.37 INR Billion [+]
GDP From Manufacturing 5650.17 5831.92 5942.29 3331.04 INR Billion [+]
GDP From Mining 871.10 727.62 1151.85 556.18 INR Billion [+]
GDP From Public Administration 4314.27 4191.29 4314.27 2328.98 INR Billion [+]
GDP From Utilities 708.09 739.55 739.55 463.02 INR Billion [+]


India GDP Annual Growth Rate

The most important and the fastest growing sector of Indian economy are services. Trade, hotels, transport and communication; financing, insurance, real estate and business services and community, social and personal services account for more than 60 percent of GDP. Agriculture, forestry and fishing constitute around 12 percent of the output, but employs more than 50 percent of the labor force. Manufacturing accounts for 15 percent of GDP, construction for another 8 percent and mining, quarrying, electricity, gas and water supply for the remaining 5 percent. This page provides - India GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. India GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on March of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
6.60 7.00 11.40 -5.20 1951 - 2018 percent Quarterly
NSA, 2011-12 Prices




Country Last Previous
India 6.60 Dec/18
China 6.40 Dec/18
Indonesia 5.18 Dec/18
South Korea 3.10 Dec/18
United States 3.10 Dec/18
Saudi Arabia 2.50 Sep/18
Spain 2.40 Dec/18
Australia 2.30 Dec/18
Netherlands 2.00 Dec/18
Singapore 1.90 Dec/18
Mexico 1.70 Dec/18
Canada 1.60 Dec/18
Russia 1.50 Sep/18
Switzerland 1.40 Dec/18
United Kingdom 1.30 Dec/18
Brazil 1.10 Dec/18
Euro Area 1.10 Dec/18
South Africa 1.10 Dec/18
France 0.90 Dec/18
Germany 0.60 Dec/18
Japan 0.30 Dec/18
Italy 0.00 Dec/18
Turkey -3.00 Dec/18
Argentina -6.20 Dec/18


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