The Indian economy grew 8.2 percent year-on-year in the second quarter of 2018, above 7.7 percent in the previous three months and beating market expectations of 7.6 percent. It is the strongest growth rate since the first quarter of 2016. GDP Annual Growth Rate in India averaged 6.16 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.

India GDP Annual Growth Rate
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India GDP Growth Highest in Over 2 Years


The Indian economy grew 8.2 percent year-on-year in the second quarter of 2018, above 7.7 percent in the previous three months and beating market expectations of 7.6 percent. It is the strongest growth rate since the first quarter of 2016, boosted by household spending, financial, real estate and manufacturing activities.

Faster increases were seen in household spending (8.6 percent compared to 6.7 percent in Q1) and inventories (8.6 percent compared to 7.8 percent). Also, exports jumped 12.7 percent, much higher than a 3.6 percent rise in the previous period. Imports also increased at a faster 12.5 percent (10.9 percent in Q1). On the other hand, government consumption (7.6 percent compared to 16.8 percent) and gross fixed capital formation (10 percent compared to 14.4 percent) slowed. Household spending accounted for 54.9 percent of the GDP; gross fixed capital formation for 31.6 percent; public expenditure for 11.8 percent; and changes in stocks for 0.7 percent. Exports accounted for 21.4 percent while imports subtracted 24.7 percent.

Gross Value Added, that is, GDP excluding taxes expanded 8 percent, higher than 7.6 percent in Q1. Faster growth was recorded for financial, real estate and professional services (6.5 percent compared to 5 percent in Q1); manufacturing (13.5 percent compared to 9.1 percent); and agriculture, forestry and fishing (5.3 percent compared to 4.5 percent). On the other hand, a slowdown was recorded for trade, hotels, transport, communication and services related to broadcasting (6.7 percent compared to 6.8 percent); public administration and defense (9.9 percent compared to 13.3 percent); construction (8.7 percent compared to 11.5 percent); mining and quarrying (0.1 percent compared to 2.7 percent); and utilities (7.3 percent compared to 7.7 percent). Financial and real estate activities were the biggest sector of the economy (24.1 percent), followed by internal trade (18.9 percent); manufacturing (18 percent); agriculture (13.3 percent); public sector (12.4 percent); construction (7.9 percent); mining (3.2 percent) and utilities (2.3 percent). 


Joana Taborda | joana.taborda@tradingeconomics.com
8/31/2018 1:00:04 PM


Recent Releases

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.
Published on 2018-05-31

India GDP Growth Beats Forecasts in Q4
The Indian economy expanded 7.2 percent year-on-year in the last three months of 2017, well above an upwardly revised 6.5 percent advance in the previous period and beating market expectations of 6.9 percent. It is the strongest growth rate since the third quarter of 2016, boosted by a jump in investment and public spending.
Published on 2018-02-28

India GDP Growth Below Expectations in Q3
The Indian economy expanded 6.3 percent yoy in Q3, above a 5.7 percent in Q2 which was the lowest in nearly 3 years, but below expectations of a 6.4 percent. A rebound in investment and inventories offset a slowdown in both private and public spending.
Published on 2017-11-30

India GDP Growth at Over 3-Year Low of 5.7% in Q2
The Indian economy expanded 5.7 percent year-on-year in the second quarter of 2017, below 6.1 percent in the previous period and market expectations of 6.6 percent. It remains the weakest growth rate since the first quarter of 2014 due to a slowdown in consumer spending and exports. On the production side, manufacturing and agriculture eased. Figures for the second quarter of 2017 mark the third consecutive period of slowing growth, following the demonetization program started in November of 2016 that removed 86 percent of India's currency in circulation.
Published on 2017-08-31



Calendar GMT Actual Previous Consensus TEForecast
2018-02-28 12:00 PM GDP Growth Rate YoY 7.2% 6.5% 6.9% 6.5%
2018-05-31 12:00 PM GDP Growth Rate YoY 7.7% 7% 7.3% 7.3%
2018-08-31 12:00 PM GDP Growth Rate YoY 8.2% 7.7% 7.6% 7.5%
2018-11-30 12:00 PM GDP Growth Rate YoY 8.2% 7.7%


India GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.90 2.00 5.40 -1.70 percent [+]
GDP Annual Growth Rate 8.20 7.70 11.40 -5.20 percent [+]
GDP 2597.49 2274.20 2597.49 36.54 USD Billion [+]
GDP Constant Prices 33739.83 34768.27 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 10652.17 11185.28 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 4197.47 4759.48 5666.82 2690.74 INR Billion [+]
GDP From Construction 2491.03 2413.76 2491.03 1861.37 INR Billion [+]
GDP From Manufacturing 5690.94 5942.29 5942.29 3331.04 INR Billion [+]
GDP From Mining 1009.54 1151.85 1151.85 556.18 INR Billion [+]
GDP From Public Administration 3922.11 4156.96 4156.96 2328.98 INR Billion [+]
GDP From Utilities 713.83 650.72 713.83 463.02 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 November of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
8.20 7.70 11.40 -5.20 1951 - 2018 percent Quarterly
NSA, 2011-12 Prices




Country Last
India 8.20 Jun/18
China 6.50 Sep/18
Turkey 5.20 Jun/18
Indonesia 5.17 Sep/18
Australia 3.40 Jun/18
Switzerland 3.40 Jun/18
United States 3.00 Sep/18
Mexico 2.60 Sep/18
Singapore 2.60 Sep/18
Spain 2.50 Sep/18
Netherlands 2.40 Sep/18
South Korea 2.00 Sep/18
Canada 1.90 Jun/18
Euro Area 1.70 Sep/18
Saudi Arabia 1.61 Jun/18
France 1.50 Sep/18
United Kingdom 1.50 Sep/18
Russia 1.30 Sep/18
Germany 1.10 Sep/18
Brazil 1.00 Jun/18
Italy 0.80 Sep/18
South Africa 0.40 Jun/18
Japan 0.30 Sep/18
Argentina -4.20 Jun/18


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