The Indian economy expanded 4.1% year-on-year in the first three months of 2022, slightly higher than market forecasts of 4%, but the least in a year, due to rising Omicron infections, elevated energy prices, and ongoing supply chain constraints. A slowdown was seen in mining and quarrying (6.7% vs 9.2% in Q4) and communication (5.3% vs 6.3%) while manufacturing output edged 0.2% lower (vs +0.3%). On the other hand, faster increases were seen for utilities (4.5% vs 3.7%) and the farm sector (4.1% vs 2.5%) while construction rebounded (2% vs -2.8%). On the consumption side, household spending slowed sharply (1.8% vs 7.4% in Q4) and both exports (16.9% vs 23.1%) and imports (18% vs 33.6%) growth also eased. In contrast, government spending increased more (4.8% vs 3%), and gross fixed capital formation accelerated (5.1% vs 2.1%). Considering the fiscal year ended in March 2022, the economy advanced 8.7%. RBI estimates the GDP growth rate for FY 2023 at 7.2%. source: Ministry of Statistics and Programme Implementation (MOSPI)

GDP Annual Growth Rate in India averaged 5.81 percent from 1951 until 2022, reaching an all time high of 20.10 percent in the second quarter of 2021 and a record low of -23.80 percent in the second quarter of 2020. This page provides - India GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. India GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2022.

GDP Annual Growth Rate in India is expected to be 16.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the India GDP Annual Growth Rate is projected to trend around 3.50 percent in 2023 and 4.80 percent in 2024, according to our econometric models.

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India GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-02-28 12:00 PM Q4 5.4% 8.5% 6% 6.5%
2022-05-31 12:00 PM Q1 4.1% 5.4% 4% 4.2%
2022-08-31 12:00 PM Q2 4.1%


Related Last Previous Unit Reference
GDP Growth Rate 0.80 1.70 percent Mar 2022
GDP Annual Growth Rate 4.10 5.40 percent Mar 2022
GDP Constant Prices 40780.25 38218.78 INR Billion Mar 2022
Gross Fixed Capital Formation 13710.90 11520.14 INR Billion Mar 2022
Full Year GDP Growth 8.70 -6.60 percent Mar 2022
GDP From Utilities 786.94 742.22 INR Billion Mar 2022
GDP From Public Administration 4939.11 5082.61 INR Billion Mar 2022
GDP From Mining 990.20 800.95 INR Billion Mar 2022
GDP From Manufacturing 6764.14 5922.68 INR Billion Mar 2022
GDP From Construction 3382.83 2670.74 INR Billion Mar 2022
GDP From Agriculture 5688.80 6626.88 INR Billion Mar 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
4.10 5.40 20.10 -23.80 1951 - 2022 percent Quarterly
NSA, 2011-12 Prices

News Stream
India Economy Expands Only 4.1% in Q1
The Indian GDP grew 4.1% year-on-year in the first three months of 2022, slightly higher than market forecasts of 4%, but the least in a year, due to rising Omicron infections, elevated energy prices, and ongoing supply chain constraints. A slowdown was seen in mining and quarrying (6.7% vs 9.2% in Q4) and communication (5.3% vs 6.3%) while manufacturing output edged 0.2% lower (vs +0.3%). On the other hand, faster increases were seen for utilities (4.5% vs 3.7%) and the farm sector (4.1% vs 2.5%) while construction rebounded (2% vs -2.8%). On the consumption side, household spending slowed sharply (1.8% vs 7.4% in Q4) and both exports (16.9% vs 23.1%) and imports (18% vs 33.6%) growth also eased. In contrast, government spending increased more (4.8% vs 3%), and gross fixed capital formation accelerated (5.1% vs 2.1%). Considering the fiscal year ended in March 2022, the economy advanced 8.7%. RBI estimates the GDP growth rate for FY 2023 at 7.2%.
2022-05-31
India GDP Grows Less than Expected in Q4
India's economy expanded 5.4 percent year-on-year in the last quarter of 2021, following an upwardly revised 8.5 percent advance in the previous period and below market expectations of 6 percent. It was a fifth straight quarter of expansion, driven by the festive season boost to consumer demand, policy support, and rapid fall in coronavirus cases. By sectors, service activity growth was supported by increases in trade, hotels, transport & communication (6.1%); financial, real estate & professional services (4.6%); and public administration, defense & other services (16.8%). In addition, output rose for manufacturing (0.2%); mining & quarrying (8.8%); utilities (3.7%); construction (2.8%) and agriculture (2.6%). Considering the full 2021/22 fiscal year, the economy expanded 8.2 percent, compared with a 9.2 percent growth projected in the first advance estimates.
2022-02-28
India GDP Grows 8.4% in July-September
India's economy expanded by 8.4 percent year-on-year in July-September 2021, following a record 20.1 percent growth in the previous three-month period and matching market expectations. The reading marked a fourth straight quarter of expansion, as coronavirus-related disruptions continued to ease and as the economic activity rebounded helped by a faster pace of vaccinations and a drop in cases. By sectors, service activity growth was supported by increases in trade, hotels, transport & communication (8.2% vs 34.3%), financial, real estate & professional services (7.8% vs 3.7%), and public administration, defense & other services (17.4% vs 5.8%). In addition, output rose for manufacturing (5.5% vs 49.6%), mining & quarrying (15.4% vs 18.6%), utilities (8.9% vs 14.3%), construction (7.5% vs 68.3%), and agriculture (4.5%, the same as in July-September). The Reserve Bank of India has forecast annual growth of 9.5 percent in the current fiscal year.
2021-11-30