India GDP Annual Growth Rate 1951-2018 | Data | Chart | Calendar

The Indian economy expanded 7.7 percent year-on-year in the first three months of 2018, higher than a downwardly revised 7 percent in the previous quarter and beating market forecasts of a 7.3 percent. It is the strongest growth rate in seven quarters as manufacturing and investments grew at a faster pace. GDP Annual Growth Rate in India averaged 6.15 percent from 1951 until 2018, reaching an all time high of 11.40 percent in the first quarter of 2010 and a record low of -5.20 percent in the fourth quarter of 1979.

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India GDP Growth Beats Forecasts at 7.7% in Q1

The Indian economy expanded 7.7 percent year-on-year in the first three months of 2018, higher than a downwardly revised 7 percent advance in the previous quarter and beating market forecasts of a 7.3 percent growth. It is the highest growth rate since the second quarter of 2016, boosted by a jump in investment. On the production side, manufacturing, agriculture and construction were the main contributors to growth.

Government spending recorded the highest growth rate (16.8 percent compared to 6.8 percent in Q4), followed by gross fixed capital formation (14.4 percent compared to 9.1 percent), stocks (7.8 percent compared to 7.2 percent) and household consumption (6.7 percent compared to 5.9 percent). On the other hand, exports slowed (3.6 percent compared to 6.2 percent) and imports rose faster (10.9 percent compared to 10.5 percent). Household spending accounted for 54.6 percent of the GDP; gross fixed capital formation for 32.2 percent; public expenditure for 9.5 percent; and changes in stocks for 0.7 percent. Exports accounted for 19.5 percent while imports subtracted 20.9 percent.

Gross Value Added, that is, GDP excluding taxes expanded 7.6 percent, higher than 6.6 percent in Q4. Faster growth was recorded for manufacturing (9.1 percent compared to 8.5 percent in Q4); agriculture, forestry and fishing (4.5 percent compared to 3.1 percent in Q4); public administration and defense (13.3 percent compared to 7.7 percent); construction (11.5 percent compared to 6.6 percent); mining and quarrying (2.7 percent compared to 1.4 percent); and utilities (7.7 percent compared to 6.1 percent). On the other hand, slowdowns were seen in trade, hotels, transport, communication and services related to broadcasting (6.8 percent compared to 8.5 percent); and finance, real estate and professional services (5 percent compared to 6.9 percent).

Considering the 2017/2018 financial year (April 2017 to March 2018), the economy expanded 6.7 percent, below 7.1 percent a year earlier, but in line with government estimates of 6.75 percent.

Joana Taborda | joana.taborda@tradingeconomics.com
5/31/2018 1:56:21 PM

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Calendar	GMT		Actual	Previous	Consensus	TEForecast
2018-02-28	12:00 PM	GDP Growth Rate YoY	7.2%	6.5%	6.9%	6.5%
2018-02-28	12:00 PM	Fiscal Year GDP Growth Final	7.1%	8.2%	7.1%	7.1%
2018-05-31	12:00 PM	GDP Growth Rate YoY	7.7%	7%	7.3%	7.3%
2018-08-31	12:00 PM	GDP Growth Rate YoY		7.7%		7.3%
2018-11-30	12:00 PM	GDP Growth Rate YoY				7.4%

India GDP	Last	Previous	Highest	Lowest	Unit
GDP Growth Rate	1.90	1.80	5.40	-1.70	percent	[+]
GDP Annual Growth Rate	7.70	7.00	11.40	-5.20	percent	[+]
GDP	2597.49	2274.20	2597.49	36.54	USD Billion	[+]
GDP Constant Prices	34768.27	32434.89	34768.27	7500.43	INR Billion	[+]
Gross National Product	12865461.00	12051525.00	12865461.00	8659505.00	INR Tens Of Million	[+]
Gross Fixed Capital Formation	11185.28	10240.06	11185.28	2021.90	INR Billion	[+]
GDP per capita	1963.55	1862.40	1963.55	304.20	USD	[+]
GDP per capita PPP	6426.67	6095.70	6426.67	1737.60	USD	[+]
GDP From Agriculture	4759.48	5666.82	5666.82	2690.74	INR Billion	[+]
GDP From Construction	2413.76	2373.76	2413.76	1861.37	INR Billion	[+]
GDP From Manufacturing	5942.29	5267.57	5942.29	3331.04	INR Billion	[+]
GDP From Mining	1151.85	892.66	1151.85	556.18	INR Billion	[+]
GDP From Public Administration	4156.96	4012.02	4156.96	2328.98	INR Billion	[+]
GDP From Utilities	650.72	641.71	667.17	463.02	INR Billion	[+]

India GDP Annual Growth Rate

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. This page provides - India GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. India GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on August of 2018.

	Actual	Previous	Highest	Lowest	Dates	Unit	Frequency
	7.70	7.00	11.40	-5.20	1951 - 2018	percent	Quarterly	NSA, 2011-12 Prices

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GDP annual growth rate by Country

Country	Last		Previous	Highest	Lowest
India	7.70	Mar/18	7	11.4	-5.2	%	Quarterly
Turkey	7.40	Mar/18	7.3	11.7	-14.4	%	Quarterly
China	6.70	Jun/18	6.8	15.4	3.8	%	Quarterly
Indonesia	5.27	Jun/18	5.06	7.16	1.56	%	Quarterly
Australia	3.10	Mar/18	2.4	9	-3.4	%	Quarterly
Netherlands	2.90	Jun/18	2.8	6.1	-4.9	%	Quarterly
South Korea	2.90	Jun/18	2.8	19.6	-7.4	%	Quarterly
United States	2.80	Jun/18	2.6	13.4	-3.9	%	Quarterly
Mexico	2.70	Jun/18	1.3	9	-9.1	%	Quarterly
Spain	2.70	Jun/18	3	5.6	-4.3	%	Quarterly
Canada	2.30	Mar/18	3	9.3	-4.1	%	Quarterly
Euro Area	2.20	Jun/18	2.5	5	-5.5	%	Quarterly
Switzerland	2.20	Mar/18	1.9	5.8	-3.4	%	Quarterly
Germany	2.00	Jun/18	2.1	7.2	-6.8	%	Quarterly
Russia	1.80	Jun/18	1.3	12.1	-11.2	%	Quarterly
France	1.70	Jun/18	2.2	12.5	-3.8	%	Quarterly
United Kingdom	1.30	Jun/18	1.2	9.7	-6.1	%	Quarterly
Brazil	1.20	Mar/18	2.1	10.1	-5.6	%	Quarterly
Italy	1.10	Jun/18	1.4	10.3	-7.2	%	Quarterly
Japan	1.00	Jun/18	1	9.4	-8.8	%	Quarterly