GDP growth

February 20, 2025 2:47 PM

India to transform into high-income country with GDP of $23–$35 trillion by 2047

India is set to transform into a high-income country with a projected GDP of $23–$35 trillion by 2047, driven by sustained annual growth of 8-10 percent, according to a report on Thursday. This will be powered by India’s demographic dividend, technological innovation, and sectoral transformation, according to the report by Bain & Company and Nasscom. With nearly 200 million individuals expected to enter the workforce in the coming decades, India has a unique opportunity to drive high-v...

February 19, 2025 4:35 PM

SBI pegs India’s GDP growth at 6.3% for Q3 of 2024-25

SBI economists have pegged India’s GDP growth at 6.2-6.3 per cent for Q3 (October-December) of 2024-25 driven by buoyant demand and Capex trends along with the increase in EBIDTA and corporate GVA recorded by India Inc. The SBI report released on Wednesday considers the slowdown in the second quarter (Q2) as a “blip” and states that “presuming no major revisions are announced in the erstwhile Q1 and Q2 figures by NSO, we estimate the FY25 full year GDP at 6.3 per cent.” The official ...

February 18, 2025 3:10 PM

India’s GDP growth expected to reach 6.6% in Q3 FY25: reports

India's gross domestic product (GDP) is projected to grow at 6.6% in the October-December quarter of 2024-25, down from 8.6% recorded in the same period of 2023-24, according to a report by the Bank of Baroda released on Tuesday. Despite the slowdown, the report highlights that economic growth remains steady, driven by agriculture, government spending, and the services sector. A key factor supporting economic stability is the government's increased capital expenditure, which has risen to 47.7% ...

February 7, 2025 11:46 AM

RBI projects 6.7% GDP growth for FY26; inflation in FY25 to remain at 4.8%

The Reserve Bank of India (RBI) has projected a real GDP growth of 6.4% for FY25, with expectations of economic activity picking up in the second half of the fiscal year. This growth is anticipated to be driven by improvements in agriculture and manufacturing sectors. RBI Governor Sanjay Malhotra, while announcing the outcome of the Monetary Policy Committee (MPC) meeting, stated that for FY26, GDP growth is estimated at 6.7%. The quarterly projections for FY26 are as follows: Q1 FY26: 6.7%, Q2...

January 24, 2025 5:04 PM

Large Indian NBFIs poised to outperform amid economic and regulatory challenges: Fitch Ratings

India's large non-bank financial institutions (NBFIs) are better positioned to weather economic and regulatory challenges compared to their smaller counterparts, according to Fitch Ratings. While softer economic conditions, tighter bank funding, and asset quality concerns are expected to affect the sector's credit growth and profitability in the near term, larger NBFIs with robust operations and diversified funding channels are expected to maintain steadier performance. The NBFI sector's loan ...

January 9, 2025 2:35 PM

Indian economy expected to clock 6.8 percent growth in 2025-26: report

The Indian economy is projected to grow at a robust 6.8 percent in the financial year 2025-26, driven by strong high-frequency indicators, according to a Bank of Baroda forecast. The report expects nominal GDP growth to be around 10.5 percent during the next financial year. It highlights that key indicators of this growth include robust air passenger traffic, a rise in services PMI, and increased GST collections. Additionally, higher rabi crop sowing is expected to boost agricultural growth, pr...

January 8, 2025 1:23 PM

Per capita nominal GDP in FY25 to grow by ₹35,000 more than FY23: economists

Despite a slowdown in real GDP growth, India’s per capita nominal GDP is projected to rise significantly in FY25, increasing by at least ₹35,000 compared to FY23, according to economists. The first advance estimate (AE) of GDP for FY25, released by the National Statistical Office (NSO), forecasts GDP growth at 6.4 per cent. The gross value added (GVA) growth is also pegged at 6.4 per cent. Meanwhile, nominal GDP growth is estimated to remain steady, growing at 9.7 per cent in FY25, slightly...

January 7, 2025 2:33 PM

India to clock faster GDP growth for Oct-Dec, inflation easing: HSBC research

India’s GDP growth momentum has improved in the October-December quarter of the current financial year (FY25), with inflation easing, according to an HSBC Research report released on Tuesday. “GDP growth came in at a disappointing 5.4% in the quarter ending September. Our analysis of 100 activity indicators suggests that the growth momentum has improved in the quarter ending December,” the report said. As many as 65% of the indicators are growing at a positive pace in the December quarte...

December 26, 2024 12:01 PM

India projected to witness 6.5 per cent real GDP growth in current, next fiscal: report

India is projected to witness 6.5 per cent real GDP growth in the current and next fiscal (FY25 and FY26), according to a report on Wednesday. This aligns with expectations, given the resilient economy and strong fundamentals. The latest 'EY Economy Watch December 2024' report estimated that by combining the real GDP growth of the first two quarters of FY25, at 6.7 per cent and 5.4 per cent, respectively, with the RBI's revised growth estimates for the third and fourth quarters of FY25, at 6.8 ...

November 18, 2024 4:39 PM

India rated fastest growing G20 economy with GDP growth projected at 7% for 2024

India is projected to be the fastest growing economy among the G20 countries with a 7% GDP growth rate for 2024, followed by Indonesia in the second spot with 5% while China is ranked third with an economic growth rate of 4.8%. "India takes the lead in the G20 with an impressive 7% GDP growth rate projected for 2024! This achievement highlights India's robust economy, showcasing its resilience and fast-paced growth amidst global challenges," a MyGov post on X said after the rankings were releas...