India’s economic growth slows in Q2 ’24

India’s real gross domestic product (GDP) growth slowed to 5.4 per cent in the second quarter of the current fiscal year (FY2024-25), compared to 8.1 per cent in the same quarter of the previous year.

This moderation was partly due to a slowdown in the manufacturing and mining sectors, the overall economic performance remains relatively robust, according to recent data published by the Ministry of Statistics and Programme Implementation.

Real Gross Value Added (GVA) grew by 5.6 per cent in Q2 FY2024-25, compared to 7.7 per cent in the same quarter of the previous fiscal year.

The agriculture sector grew 3.5 per cent after several quarters of subdued growth, while the construction sector performed well, recording growth rates of 7.7 per cent and 9.1 per cent in Q2 and H1 of FY2024-25, respectively.

Attribution: Ministry of Statistics and Programme Implementation report

Subediting: M. S. Salama