Markets Actual Q3/25 Q4/25 Q1/26 Q2/26
Currency 88.19 88.36 88.52 88.68 88.83
Stock Market (points) 80710.76 80243 79775 79314 78854
Government Bond 10Y (%) 6.47 6.46 6.45 6.44 6.43

Overview Actual Q3/25 Q4/25 Q1/26 Q2/26
GDP Growth Rate (%) 2.00 1.5 1 1 1.1
GDP Annual Growth Rate (%) 7.80 7.2 6 5.7 5.5
Unemployment Rate (%) 5.20 7.8 7.7 7.5 7.8
Inflation Rate (%) 1.55 1.5 2.2 2.5 3.2
Interest Rate (%) 5.50 5.5 5.5 5.25 5.25
Balance of Trade (USD Billion) -27.35 -26 -27 -23 -26
Current Account (USD Million) -2351.00 -10300 -9600 -8700 -7400
Services PMI (points) 62.90 58 56 54 56
Manufacturing PMI (points) 59.80 58.5 57 54 55
Business Confidence (points) 126.20 119 120 126 129
Consumer Confidence (points) 96.50 96.4 98.8 97.5 95
Current Account to GDP (% of GDP) -0.60 -1
Government Debt to GDP (% of GDP) 81.59 80
Government Budget (% of GDP) -4.80 -4.1

GDP Actual Q3/25 Q4/25 Q1/26 Q2/26
GDP Growth Rate (%) 2.00 1.5 1 1 1.1
GDP Annual Growth Rate (%) 7.80 7.2 6 5.7 5.5
GDP Constant Prices (INR Billion) 47886.23 48171 50101 54279 50520
Gross Fixed Capital Formation (INR Billion) 16553.46 16696 15891 18404 17464
GDP from Construction (INR Billion) 3980.32 3737 4134 4901 4199
GDP from Public Administration (INR Billion) 5614.13 5867 5877 5944 5923
GDP from Agriculture (INR Billion) 5683.74 5100 8223 7160 5996
GDP from Manufacturing (INR Billion) 7613.94 7727 7378 8773 8033
GDP from Mining (INR Billion) 873.27 696 874 1071 921
GDP from Utilities (INR Billion) 1064.70 1104 1021 1057 1123
GDP (USD Billion) 3912.69 4159
Gross National Product (INR Tens Of Million) 18523133.00 19634521
GDP per Capita (USD) 2396.71 2548
GDP per Capita PPP (USD) 9817.07 10436
Full Year GDP Growth (%) 6.50 6.3

Labour Actual Q3/25 Q4/25 Q1/26 Q2/26
Unemployment Rate (%) 5.20 7.8 7.7 7.5 7.8
Labor Force Participation Rate (%) 50.40 51 51.3 51.5 51.3
Population (Million) 1398.60 1467
Minimum Wages ( INR/Day) 178.00 178

Prices Actual Q3/25 Q4/25 Q1/26 Q2/26
Inflation Rate (%) 1.55 1.5 2.2 2.5 3.2
Consumer Price Index CPI (points) 196.00 197 200 197 200
Producer Prices (points) 154.40 154 158 157 157
Producer Prices Change (%) -0.58 -0.2 1.5 1.4 2
Food Inflation (%) -1.76 0.6 0.6 1.9 3
WPI Manufacturing YoY (%) 2.05 1.6 2.2 2 2.5
WPI Fuel YoY (%) -2.43 -2.2 1 1.5 1.9
WPI Food Index YoY (%) -2.15 -2.1 0 3.2 2.8
CPI Transportation (points) 173.50 174 175 175 176
CPI Housing Utilities (points) 185.70 184 186 188 191
Inflation Rate MoM (%) 0.93 0.4 0.3 0.4 0.1
GDP Deflator (points) 172.60 176
Export Prices (points) 160.40 170
Import Prices (points) 140.40 174

Money Actual Q3/25 Q4/25 Q1/26 Q2/26
Interest Rate (%) 5.50 5.5 5.5 5.25 5.25
Interbank Rate (%) 6.09 6.09 6.09 5.84 5.84
Money Supply M2 (INR Billion) 72590.56 70700 75500 75500 80000
Money Supply M3 (INR Billion) 281389.16 288400 290000 301000 310000
Central Bank Balance Sheet (INR Billion) 40615.40 38600 39000 38300 39300
Foreign Exchange Reserves (USD Million) 694230.00 705000 708000 710000 725000
Loan Growth (%) 10.20 11.5 12.5 12.8 13
Reverse Repo Rate (%) 3.35 3.35 3.35 3.35 3.35

Trade Actual Q3/25 Q4/25 Q1/26 Q2/26
Balance of Trade (USD Billion) -27.35 -26 -27 -23 -26
Current Account (USD Million) -2351.00 -10300 -9600 -8700 -7400
Exports (USD Billion) 37.24 38 40 42 40
Imports (USD Billion) 64.59 64 67 65 66
Tourist Arrivals 626000.00 705000 1180000 900000 750000
Current Account to GDP (% of GDP) -0.60 -1
Terms of Trade (points) 147.30 97.7

Government Actual Q3/25 Q4/25 Q1/26 Q2/26
Government Revenues (INR Tens of Million) 1095209.00 1790000 2460000 3220000 1110000
Fiscal Expenditure (INR Tens of Million) 1563625.00 2600000 3580000 5400000 1150000
Government Debt to GDP (% of GDP) 81.59 80
Government Budget (% of GDP) -4.80 -4.1
Government Spending to GDP (% of GDP) 14.77 17

Business Actual Q3/25 Q4/25 Q1/26 Q2/26
Services PMI (points) 62.90 58 56 54 56
Manufacturing PMI (points) 59.80 58.5 57 54 55
Business Confidence (points) 126.20 119 120 126 129
Industrial Production (%) 3.50 3.2 4 2.9 3.3
Manufacturing Production (%) 5.40 4.5 5.1 3.6 3
Mining Production (%) -8.70 2.4 2.7 1.9 1.9
Composite PMI (points) 63.20 59 55 57 56.8

Consumer Actual Q3/25 Q4/25 Q1/26 Q2/26
Consumer Confidence (points) 96.50 96.4 98.8 97.5 95
Consumer Spending (INR Billion) 27167.23 26996 30140 28751 28661
Bank Lending Rate (%) 9.77 9.77 9.77 9.52 9.52
Gasoline Prices (USD/Liter) 1.08 1.09 1.1 1.1 1.11
Disposable Personal Income (INR Million) 296383300.00 314166298

Housing Actual Q3/25 Q4/25 Q1/26 Q2/26
Housing Index (points) 122.00 123 125 127 125
Construction Output (%) 2.00 1.2 1.4 2 3