India's real GDP to grow by 6.5% in FY25: NSO second advance estimates

01 Mar '25

2 min read

India's real GDP to grow by 6.5% in FY25: NSO second advance estimates

Pic: Adobe Stock

Insights

India's real GDP will grow by 6.5 per cent in FY25 compared to 9.2 per cent in FY24, while nominal GDP may grow by 9.9 per cent, the second official advance estimates show.
Both are revised upward from the first advance estimates, which showed real GDP grew by 9.2 per cent in FY24—the highest in the last 12 years bar FY22.
A 12.3-per cent manufacturing growth rate contributed to this growth.

India’s real gross domestic product (GDP) will grow by 6.5 per cent in fiscal 2024-25 (FY25) compared to 9.2 per cent in FY24, while nominal GDP is expected to see a growth rate of 9.9 per cent in the fiscal, according to the second advance estimates by the National Statistics Office (NSO) under the ministry of statistics and programme implementation (MoSPI).

Nominal GDP is estimated to attain a level of ₹331.03 lakh crore ($3,784.5 billion) in FY25 against ₹301.23 lakh crore ($3,443.78 billion) in FY24.

Both the growth rates are revised upward from their respective first advance estimates.

Real GDP grew by an estimated 6.2 per cent in the third quarter (Q3) of FY25. Growth rate in nominal GDP for the same quarter has been estimated at 9.9 per cent.

The real GDP growth rate for Q2 FY25 has been revised upward to 5.6 per cent, a release from the ministry said.

As per the first revised estimates, real GDP grew by 9.2 per cent in FY24, which is highest in the previous 12 years except for FY22. A 12.3-per cent growth rate in the manufacturing sector contributed to this growth.

As per the final estimates, real GDP grew by 7.6 per cent in FY23.

Private final consumption expenditure (PFCE) is expected to see a good growth of 7.6 per cent during FY25 compared to 5.6 per cent during FY24.

Fibre2Fashion News Desk (DS)

More Textiles News - India...