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. source: Ministry of Statistics and Programme Implementation (MOSPI)

GDP Annual Growth Rate in India averaged 5.87 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 December of 2022.

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 4.50 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
2022-08-31 12:00 PM Q2 13.5% 4.1% 15.2% 14%
2022-11-30 12:00 PM Q3 6.3% 13.5% 6.2% 6.1%
2023-02-28 12:00 PM Q4 6.3% 4.1%


Related Last Previous Unit Reference
GDP Growth Rate -1.40 -1.40 percent Jun 2022
GDP Annual Growth Rate 6.30 13.50 percent Sep 2022
GDP Constant Prices 38165.78 36851.25 INR Billion Sep 2022
Gross Fixed Capital Formation 13216.67 12778.06 INR Billion Sep 2022
Full Year GDP Growth 8.70 -6.60 percent Mar 2022
GDP from Utilities 859.71 886.40 INR Billion Sep 2022
GDP from Public Administration 4979.46 4663.80 INR Billion Sep 2022
GDP from Mining 666.96 854.23 INR Billion Sep 2022
GDP from Manufacturing 5980.11 6051.04 INR Billion Sep 2022
GDP from Construction 2590.98 2629.18 INR Billion Sep 2022
GDP from Agriculture 4243.86 4933.25 INR Billion Sep 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
6.30 13.50 20.10 -23.80 1951 - 2022 percent Quarterly
NSA, 2011-12 Prices

News Stream
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
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