The Indian economy expanded at a record 20.1% year-on-year in Q2 2021, slightly higher than market forecasts of 20%, amid a low base effect from last year and despite a second wave of covid-19 infections and localised lockdowns. It compares with a record 24.4% slump a year earlier when the coronavirus crisis hit the economies hard. In Q2 2021, the construction sector surged 68.3%; manufacturing jumped 49.6%; trade, hotels, transport and communication 34.3%; mining 18.6%; utilities 14.3%; the farm sector 4.5%; and the financial and real estate sector 3.7%. On the consumption side, private expenditure increased 19.3%, investment 55.3%, exports 39.1% and imports 60.2% while public expenditure dropped 4.8%. source: Ministry of Statistics and Programme Implementation (MOSPI)

GDP Annual Growth Rate in India averaged 5.79 percent from 1951 until 2021, reaching an all time high of 20.10 percent in the second quarter of 2021 and a record low of -24.40 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 October of 2021.

GDP Annual Growth Rate in India is expected to be 12.00 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 7.00 percent in 2022 and 6.50 percent in 2023, according to our econometric models.

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India GDP Annual Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-05-31 12:00 PM Q1 1.6% 0.5% 1% 1.2%
2021-08-31 12:00 PM Q2 20.1% 1.6% 20% 19%
2021-11-30 12:00 PM Q3 20.1% 12%


News Stream
Indian Economy Expands at a Record 20.1% in Q2
The Indian economy expanded at a record 20.1% year-on-year in Q2 2021, slightly higher than market forecasts of 20%, amid a low base effect from last year and despite a second wave of covid-19 infections and localised lockdowns. It compares with a record 24.4% slump a year earlier when the coronavirus crisis hit the economies hard. In Q2 2021, the construction sector surged 68.3%; manufacturing jumped 49.6%; trade, hotels, transport and communication 34.3%; mining 18.6%; utilities 14.3%; the farm sector 4.5%; and the financial and real estate sector 3.7%. On the consumption side, private expenditure increased 19.3%, investment 55.3%, exports 39.1% and imports 60.2% while public expenditure dropped 4.8%.
2021-08-31
India GDP Growth Beats Forecasts at 1.6% in Q1
The Indian economy expanded 1.6% year-on-year in Q1 2021, accelerating from an upwardly revised 0.5% growth in Q4 and beating market forecasts of 1%. It was the 2nd straight quarter of growth since the country exit a pandemic-induced recession. On the expenditure side, both private (2.7% vs -2.8% in Q4) and public (28.3% vs -1%) spending rebounded while gross fixed capital formation rose faster (10.9% vs 2.6%). Meantime, net trade contributed negatively to growth as exports climbed 8.8% (vs -3.5% in Q4) but imports jumped at a faster 12.3% (vs -5% in Q4). On the production side, output rose for manufacturing (6.9%); construction (14.5%) and utilities (9.1%). In the last fiscal year that ended on March 31st, the economy contracted a record 7.3%, less than earlier estimates of an 8% drop. Asia’s 3rd largest economy is expected to grow at the world’s fastest rate this year despite projections for the current quarter being more pessimistic amid the 2nd flare-up of infections in April.
2021-05-31
India GDP Growth Slower than Expected in Q4
The economy of India grew 0.4% year-on-year in the last three months of 2020, slightly below market forecasts of a 0.5% gain. Still, it is the first expansion in three quarters as the government opened economic activities in phases from June after a coronavirus lockdown in late-March. On the expenditure side, both private (1% vs -8.3% in Q3) and public (7.2% vs -17.5%) spending rebounded. Gross fixed capital formation also returned to growth (5.9% vs -7%) while exports declined 1.7% (vs -0.1% and imports sank 2% (vs -16.9%). On the production side, gross value added surged 1%, boosted by a rebound in manufacturing (1.6% vs -1.5%), construction (6.2% vs -7.2%), financial, real estate and professional services (6.6% vs -9.5%). Also, the farm sector rose faster (3.9% vs 3%) and utilities output surged (7.3% vs 2.3%). The contraction for financial year 2020/2021 was estimated slightly higher at 8% from 7.7% which would be the biggest drop ever.
2021-02-26

India Last Unit Reference Previous Highest Lowest
GDP Annual Growth Rate 20.10 percent Jun/21 1.60 20.10 -24.40
GDP Constant Prices 32380.20 INR Billion Jun/21 38963.35 38963.35 7500.43
Gross Fixed Capital Formation 10223.35 INR Billion Jun/21 13382.27 13382.27 2021.90
GDP From Utilities 820.42 INR Billion Jun/21 795.61 820.42 463.02
GDP From Public Administration 3792.05 INR Billion Jun/21 4699.45 4699.45 2328.98
GDP From Mining 814.44 INR Billion Jun/21 913.03 1056.74 97.78
GDP From Manufacturing 5438.21 INR Billion Jun/21 6315.03 6315.03 3331.04
GDP From Construction 2212.56 INR Billion Jun/21 3175.14 3175.14 1314.39
GDP From Agriculture 4862.92 INR Billion Jun/21 5445.03 6401.91 2690.74


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.