The Gross Domestic Product (GDP) in India expanded 1.70 percent in the third quarter of 2023 over the previous quarter. GDP Growth Rate in India averaged 1.62 percent from 1996 until 2023, reaching an all time high of 22.60 percent in the third quarter of 2020 and a record low of -22.50 percent in the second quarter of 2020. source: OECD

GDP Growth Rate in India is expected to be 0.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the India GDP Growth Rate is projected to trend around 1.60 percent in 2025, according to our econometric models.

Related Last Previous Unit Reference
Fiscal Year GDP Growth 7.60 7.00 percent Mar 2024
GDP 3416.65 3150.31 USD Billion Dec 2022
GDP Growth Rate YoY 8.40 8.10 percent Dec 2023
GDP Constant Prices 43720.11 41856.36 INR Billion Dec 2023
GDP Growth Rate 1.70 1.90 percent Sep 2023

India GDP Growth Rate
In India, the growth rate in GDP measures the change in the seasonally adjusted value of the goods and services produced by the Indian economy during the quarter. India is the world’s tenth largest economy and the second most populous. 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
1.70 1.90 22.60 -22.50 1996 - 2023 percent Quarterly