India's GDP growth slowed to 5.4% in the July-September quarter of FY2025. This is the slowest growth in seven quarters. Earlier, growth was 4.3% in the third quarter of 2023. While it was 8.1% in the same quarter a year ago (Q2FY24). It was 6.7% in the last quarter i.e. Q1FY25.
India's GVA grew at a rate of 5.6% in the July-September quarter. GVA growth was 7.7% in the same quarter a year ago. While the GVA growth in the last quarter was 6.8%. GDP growth has slowed due to weak performance of the manufacturing sector. The National Statistics Office released the GDP data today on November 29.
Year-on-year sector-wise growth (FY25 Vs FY24)
- Mining Growth: -0.1% Vs 11.1%
- Manufacturing Growth: 2.2% Vs 14.3%
- Electricity Growth: 3.3% Vs 10.5%
- Construction Growth: 7.7% Vs 13.6%
- Agriculture Growth: 3.5% Vs 1.7%
- Hotel Growth: 6% Vs 4.5%
- Fin and Real Estate Growth: 6.7% Vs 6.2%
- Public Administration and Services Growth: 9.2% Vs 7.7%
India is still the fastest growing economy among major countries
Despite slow GDP growth, India is still the fastest growing among major economies. China's GDP growth was 4.6% in the July-September quarter this year. While Japan's GDP has increased at the rate of 0.9%.
GDP measures the value of goods and services
GDP stands for Gross Domestic Product and measures the total value of goods and services produced in a country over a period of time. It also includes foreign companies manufacturing within the country's borders. GDP indicates the health of the economy.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
