The Indian economy expanded 4.4% year-on-year in the three months to December of 2022, below 6.3% in the three months to September and forecasts of 4.6%. Private spending which accounted for 61.6% of the GDP in Q4, slowed sharply (2.1% vs 8.8% in Q3), hurt by a rise in borrowing costs. At the same time, investment rose at a slower pace (8.3% vs 9.7%), government spending contracted (-0.8% vs -4.1%) and both exports (11.3% vs 12.3%) and imports (10.9% vs 25.9%) lost steam. On the other hand, stocks rebounded (0.2% vs -2.3%). On the production side, the manufacturing sector shrank for a second time (-1.1% vs -3.6%) and a slowdown was seen in finance and real estate (5.8% vs 7.1%) and trade, hotels, transport and communication (9.7% vs 15.6%). In contrast, output in the mining sector rebounded (3.7% vs -0.4%) and faster increases were seen in farm (3.7% vs 2.4%), utilities (8.2% vs 6%) and construction (8.4% vs 5.8%). The growth rate for the 2022/2023 fiscal year was kept unchanged at 7%. source: Ministry of Statistics and Programme Implementation (MOSPI)

GDP Annual Growth Rate in India averaged 5.90 percent from 1951 until 2022, reaching an all time high of 21.60 percent in the second quarter of 2021 and a record low of -23.20 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 March of 2023.

GDP Annual Growth Rate in India is expected to be 4.10 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 3.80 percent in 2024 and 3.90 percent in 2025, according to our econometric models.

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India GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-11-30 12:00 PM Q3 6.3% 13.5% 6.2% 6.1%
2023-02-28 12:00 PM Q4 4.4% 6.3% 4.6% 4.4%
2023-05-31 12:00 PM Q1 4.4% 4.1%


Related Last Previous Unit Reference
GDP Growth Rate 0.80 0.00 percent Sep 2022
GDP Annual Growth Rate 4.40 6.30 percent Dec 2022
GDP Constant Prices 40185.84 38809.88 INR Billion Dec 2022
Gross Fixed Capital Formation 12768.72 13274.86 INR Billion Dec 2022
Full Year GDP Growth 7.00 9.10 percent Mar 2023
GDP from Utilities 815.37 874.49 INR Billion Dec 2022
GDP from Public Administration 4813.31 4727.94 INR Billion Dec 2022
GDP from Mining 787.32 645.94 INR Billion Dec 2022
GDP from Manufacturing 6149.82 6297.98 INR Billion Dec 2022
GDP from Construction 3048.83 2696.47 INR Billion Dec 2022
GDP from Agriculture 6934.75 4297.55 INR Billion Dec 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
4.40 6.30 21.60 -23.20 1951 - 2022 percent Quarterly
NSA, 2011-12 Prices

News Stream
India GDP Growth Below Forecasts in Q4
The Indian economy expanded 4.4% year-on-year in the three months to December of 2022, below 6.3% in the three months to September and forecasts of 4.6%. Private spending which accounted for 61.6% of the GDP in Q4, slowed sharply (2.1% vs 8.8% in Q3), hurt by a rise in borrowing costs. At the same time, investment rose at a slower pace (8.3% vs 9.7%), government spending contracted (-0.8% vs -4.1%) and both exports (11.3% vs 12.3%) and imports (10.9% vs 25.9%) lost steam. On the other hand, stocks rebounded (0.2% vs -2.3%). On the production side, the manufacturing sector shrank for a second time (-1.1% vs -3.6%) and a slowdown was seen in finance and real estate (5.8% vs 7.1%) and trade, hotels, transport and communication (9.7% vs 15.6%). In contrast, output in the mining sector rebounded (3.7% vs -0.4%) and faster increases were seen in farm (3.7% vs 2.4%), utilities (8.2% vs 6%) and construction (8.4% vs 5.8%). The growth rate for the 2022/2023 fiscal year was kept unchanged at 7%.
2023-02-28
India GDP Growth Slows to 6.3% in Q3
The Indian economy expanded 6.3% yoy in Q3 2022, slightly higher than forecasts of 6.2%, but well below a 13.5% growth in Q2, as distortions caused by COVID lockdowns faded, high prices and rising interest rates weighed on demand and slowing global demand started to impact exports. Private spending slowed sharply (9.7% vs 25.9%), investment growth halved (10.4% vs 20.1%), and both exports (11.5% vs 14.7%) and imports (25.4% vs 37.2%) rose at a slower pace. Meanwhile, stocks declined faster (-19.4% vs -17.4%) and public expenditure shrank (-4.4% vs 1.3%). On the other hand, government spending increased more than 40% as the government stepped up expenditure on infrastructure. On the production side, trade, hotels, transport, and communication recorded the biggest increase (14.7%), followed by financial, real estate (7.2%), construction (6.6%), public administration (6.5%), utilities (5.6%) and farm (4.6%). On the other hand, both manufacturing (-4.3%) and mining (-2.8%) contracted.
2022-11-30
India GDP Growth Below Expectations in Q2
The Indian economy expanded 13.5% year-on-year in the second quarter of 2022, the most in a year but less than market forecasts of 15.2%. Gross value added increased faster for agriculture, forestry & fishing (4.5% vs 2.2% in Q2 2021); electricity, gas, water supply & other utility services (14.7% vs 13.8%); financial, real estate & professional services (9.2% vs 2.3%) and public administration, defence & other services (26.3% vs 6.2%). On the other hand, a slowdown was seen for mining & quarrying (6.5% vs 18%); manufacturing (4.8% vs 49%); construction (16.8% vs 71.3%) and trade, hotels, transport, communication & services related to broadcasting (25.7% vs 34.3%). On the expenditure side, household consumption accelerated (25.9% vs 14.4% in Q2 2021) and government expenditure rebounded (1.3% vs -4.8%). Meanwhile, gross fixed capital formation slowed (20.1% vs 62.5%) and net foreign demand contributed negatively to growth, as exports rose 14.7% while imports advanced at a faster 37.2%.
2022-08-31