The Indian economy expanded by 6.7% from the previous year in the June quarter of 2024, slowing from the 7.8% increase in the earlier period and missing market expectations of a 6.9% growth rate. It was the slowest expansion in five quarters, owed to a sharp slowdown in government spending as the long-awaited general elections drove several usual government activities to halt. Still, gauges of slowing consumer spending also signaled that the Indian economy is resilient to high interest rates by the RBI to a lesser extent, strengthening the case for doves in the RBI. source: Ministry of Statistics and Programme Implementation (MOSPI)
The Gross Domestic Product (GDP) in India expanded 6.70 percent in the second quarter of 2024 over the same quarter of the previous year. GDP Annual Growth Rate in India averaged 5.99 percent from 1951 until 2024, reaching an all time high of 22.60 percent in the second quarter of 2021 and a record low of -23.10 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 November of 2024.
The Gross Domestic Product (GDP) in India expanded 6.70 percent in the second quarter of 2024 over the same quarter of the previous year. GDP Annual Growth Rate in India is expected to be 7.00 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 5.90 percent in 2025 and 5.10 percent in 2026, according to our econometric models.