India’s real GDP grew at a robust 7. 8% in the third quarter of FY 2025-26 according to data released by the Ministry of Statistics and Programme Implementation (MoSPI). This is the first GDP data that has been released by MoSPI under the new series which revises the base year for calculation purposes.
India’s economy grew at 7.8% in the October–December quarter of 2025-26, compared with 7.4% in the corresponding period a year earlier, according to the revised national accounts series.
MoSPI on Friday released the updated annual and quarterly national accounts estimates based on the 2022-23 base year, replacing the earlier series that used 2011-12 as the reference year.
India’s Q3 FY 2025-26 GDP data: Key Highlights
1. Under the revised series, GDP growth for the current financial year is projected at 7.6 per cent, slightly higher than the 7.4 per cent estimate provided in the ministry’s advance projections issued in January. Nominal GDP is projected to increase by 8.6 per cent in FY 2025-26.
2. The growth estimate for the July–September quarter of 2025-26 has been revised upward to 8.4 per cent from the earlier 8.2 per cent.
3. In contrast, the estimate for the April–June quarter has been lowered to 6.7 per cent from the previously reported 7.8 per cent.
4. The overall economic performance in FY 2025-26 has been supported mainly by strong real growth recorded in the second quarter at 8.4 per cent and in the third quarter at 7.8 per cent.
5. The economy has maintained steady growth momentum, with real GDP rising by 7.2 per cent in FY 2023-24 and 7.1 per cent in FY 2024-25.
6. Nominal GDP growth stood at 11.0 per cent in FY 2023-24 and 9.7 per cent in FY 2024-25.
7. Following the base year revision, the manufacturing sector has emerged as a key contributor to the economy’s resilience over the past three financial years, seeing double-digit growth in FY 2023-24 and again in FY 2025-26.
8. Growth in both the secondary and tertiary sectors has also strengthened economic performance, with each recording growth of more than 9 per cent in FY 2025-26.
9. Within the services segment, the “Trade, Repair, Hotels, Transport, Communication and Services related to Broadcasting and Storage” category registered growth of 10.1 per cent at constant prices in FY 2025-26.
10. On the expenditure side, Private Final Consumption Expenditure and Gross Fixed Capital Formation each recorded growth exceeding 7 per cent during FY 2025-26.
