The Indian economy advanced 5.8 percent year-on-year in the first quarter of 2019, slowing from a 6.6 percent expansion in the previous period and missing market expectations of 6.3 percent. It was the weakest growth rate since the first quarter of 2014, amid weaker consumer demand and fixed investment. GDP Annual Growth Rate in India averaged 6.21 percent from 1951 until 2019, 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.

GDP Annual Growth Rate in India is expected to be 6.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in India to stand at 7.00 in 12 months time. In the long-term, the India GDP Annual Growth Rate is projected to trend around 6.50 percent in 2020, according to our econometric models.

India GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-11-30 12:00 PM GDP Growth Rate YoY Q3 7.1% 8.2% 7.4% 7.4%
2019-01-31 12:15 PM Fiscal Year GDP Growth Final 2017-18 7.2% 8.2% 7.5%
2019-02-28 12:00 PM GDP Growth Rate YoY Q4 6.6% 7% 6.9% 7%
2019-05-31 12:00 PM GDP Growth Rate YoY Q1 5.8% 6.6% 6.3% 6.1%
2019-08-30 12:00 PM GDP Growth Rate YoY Q2 5.8% 6.3% 6.7%
2019-11-29 12:00 PM GDP Growth Rate YoY Q3 6.6%



India Q1 GDP Growth Slows to 5-Year Low

The Indian economy advanced 5.8 percent year-on-year in the first quarter of 2019, slowing from a 6.6 percent expansion in the previous period and missing market expectations of 6.3 percent. It was the weakest growth rate since the first quarter of 2014, amid weaker consumer demand and fixed investment.

Slower growth rates were seen in household spending (8.1 percent compared to 8.4 percent in Q4) and gross fixed capital formation (10 percent compared to 10.6 percent). Meanwhile, government consumption (9.2 percent compared to 6.5 percent) and inventories (4.8 percent compared to 3.9 percent) increased further. Net external trade contributed negatively to the GDP, as exports went up 12.5 percent (vs 14.6 percent in Q4) and imports rose at a faster 15.4 percent (vs 14.7 percent in Q4).

Household spending accounted for 56.8 percent of the GDP (58.9 percent in Q4); gross fixed capital formation for 30.7 percent (33.4 percent in Q4); public expenditure for 9.9 percent (9.7 percent in Q4); and changes in stocks for 1.1 percent, the same as in the fourth quarter of 2018. Exports accounted for 20 percent (21.8 percent in Q4) while imports subtracted 23.3 percent (-25.7 percent in Q4).

Gross Value Added, that is, GDP excluding taxes grew 5.7 percent in the first quarter of 2019, easing from a 6.3 percent expansion in the prior period. A slowdown was recorded in manufacturing (3.1 percent compared to 6.4 percent in Q4);  trade, hotel, transport, communication and services related to broadcasting (6 percent compared to 6.9 percent); and construction (7.1 percent compared to 9.7 percent). Also, agriculture, forestry and fishing shrank 0.1 percent, after expanding 2.8 percent in the prior quarter. On the other hand, output went up further in mining (4.2 percent compared to 1.8 percent);  public administration and defence (10.7 percent compared to 7.5 percent); and financial, real estate and professional services (9.5 percent compared to 7.2 percent).


Stefanie Moya | stefanie.moya@tradingeconomics.com
5/31/2019 1:19:46 PM



India GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.40 1.50 5.80 -1.80 percent [+]
GDP Annual Growth Rate 5.80 6.60 11.40 -5.20 percent [+]
GDP 2726.32 2652.55 2726.32 37.03 USD Billion [+]
GDP Constant Prices 37198.30 35010.20 37198.30 7500.43 INR Billion [+]
Gross National Product 13954956.00 12865461.00 13954956.00 8659505.00 INR Tens Of Million [+]
Gross Fixed Capital Formation 11421.62 11690.21 11690.21 2021.90 INR Billion [+]
GDP per capita 2104.20 1987.30 2104.20 330.20 USD [+]
GDP per capita PPP 6899.20 6516.20 6899.20 1887.00 USD [+]
GDP From Agriculture 4860.94 5869.41 5869.41 2690.74 INR Billion [+]
GDP From Construction 2586.14 2756.19 2756.19 1861.37 INR Billion [+]
GDP From Manufacturing 6167.49 5638.04 6167.49 3331.04 INR Billion [+]
GDP From Mining 1139.86 875.89 1139.86 556.18 INR Billion [+]
GDP From Public Administration 4610.20 4310.49 4610.20 2328.98 INR Billion [+]
GDP From Utilities 692.04 708.31 739.55 463.02 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 2019.

Actual Previous Highest Lowest Dates Unit Frequency
5.80 6.60 11.40 -5.20 1951 - 2019 percent Quarterly
NSA, 2011-12 Prices




Country Last Previous
China 6.20 Jun/19
India 5.80 Mar/19
Indonesia 5.05 Jun/19
Spain 2.30 Jun/19
United States 2.30 Jun/19
South Korea 2.10 Jun/19
Netherlands 2.00 Jun/19
Australia 1.80 Mar/19
Saudi Arabia 1.70 Mar/19
Switzerland 1.70 Mar/19
Canada 1.30 Mar/19
France 1.30 Jun/19
Japan 1.20 Jun/19
United Kingdom 1.20 Jun/19
Euro Area 1.10 Jun/19
Russia 0.90 Jun/19
Brazil 0.50 Mar/19
Germany 0.40 Jun/19
Singapore 0.10 Jun/19
Italy 0.00 Jun/19
South Africa 0.00 Mar/19
Mexico -0.70 Jun/19
Turkey -2.60 Mar/19
Argentina -5.80 Mar/19


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