The Indian economy likely expanded 7.3% in the 2023-24 fiscal year, higher than 7.2% in the previous year, according to government estimates. Full Year GDP Growth in India averaged 6.26 percent from 2006 until 2024, reaching an all time high of 9.10 percent in 2022 and a record low of -5.80 percent in 2021. source: Ministry of Statistics and Programme Implementation (MOSPI)
Full Year GDP Growth in India increased to 7.30 percent in 2024 from 7.20 percent in 2023.
Full Year GDP Growth in India increased to 7.30 percent in 2024 from 7.20 percent in 2023. Full Year GDP Growth in India is expected to reach 6.50 percent by the end of 2024, according to Trading Economics global macro models and analysts expectations. In the long-term, the India Fiscal Year GDP Growth is projected to trend around 6.70 percent in 2025, according to our econometric models.
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.
|
Actual |
Previous |
Highest |
Lowest |
Dates |
Unit |
Frequency |
||
|---|---|---|---|---|---|---|---|---|
| 7.30 | 7.20 | 9.10 | -5.80 | 2006 – 2024 |
percent |
Yearly |
|
