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

GDP Annual Growth Rate in India averaged 5.67 percent from 1951 until 2021, reaching an all time high of 11.40 percent in the first quarter of 2010 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 August of 2021.

GDP Annual Growth Rate in India is expected to be 10.50 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 6.60 in 12 months time. 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

Actual Previous Highest Lowest Dates Unit Frequency
1.60 0.50 11.40 -24.40 1951 - 2021 percent Quarterly
NSA, 2011-12 Prices


Calendar GMT Actual Previous Consensus TEForecast
2020-11-27 12:00 PM YoY Q3 -7.5% -23.9% -8.8% -10%
2021-01-29 12:00 PM Fiscal Year GDP Growth Final 2019-20 4% 6.5%
2021-02-26 12:00 PM YoY Q4 0.4% -7.3% 0.5% 0.5%
2021-05-31 12:00 PM YoY Q1 1.6% 0.5% 1% 1.2%
2021-08-31 12:00 PM YoY Q2 1.6% 10.5%
2021-11-30 12:00 PM YoY Q3 12%


News Stream
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 GDP Shrinks Less than Expected in Q3
The Indian economy shrank 7.5% yoy in Q3 2020, less than expectations of an 8.8% drop, amid easing of lockdown restrictions from June, higher demand during festival season and a rebound in manufacturing and utilities. It follows a record 23.9% plunge in Q2, bringing the economy into recession for the first time on record. On the demand side, smaller decreases were recorded for private spending (-11.3% vs -26.7%); investment (-7.3% vs -47.1%), exports (-1.5% vs -19.8%) and imports (-17.2% vs -40.4%). On the production side, manufacturing (0.6% vs -39.3%) and utilities (4.4% vs -7%) rebounded and mining (-9.1% vs -23.3%); construction (-8.6% vs -50.3%); and trade, hotels (-15.6% vs -47%) fell less while finance, real estate and professional activities shrank faster (-8.1% vs -5.3%). The GDP is still seen contracting in Q4 as the pandemic is far from controlled and the government announced a $10 billion stimulus package in mid-October only.
2020-11-27
India Is Set to Enter Recession in Q3
The Indian economy is seen falling 8.8% year-on-year in Q3 2020, following a record 23.9% plunge in the previous period, sending India into a technical recession for the first time on record. The country imposed a lockdown in late March and extended it several times, aiming to stop the spread of coronavirus, which halted most economic activities and lead to a collapse in private consumption and investment. Still, Q3 contraction is expected to be much smaller due to easing of lockdown restrictions from June, higher demand during festival season and a rebound in manufacturing, particularly non-durables, and some categories of services like passenger vehicles and railway freight. The economy is still seen shrinking in Q4 as the pandemic is far from controlled and the government announced a $10 billion stimulus package in mid-October only.
2020-11-27

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.