India's GDP Growth Surges to 8.4% in Q3FY24

India's GDP Growth Surges to 8.4% in Q3FY24: Far exceeding expectations, India's economy grew robustly, driven by manufacturing, electricity, and construction sectors.

India Retains Title as World's Fastest-Growing Major Economy: The growth figure positions India ahead of other global economies in terms of growth rate.

[{"selector":"#anim-bf9224fa-8e08-4e7f-aa0a-659d5b7490b4","keyframes":{"transform":["translate3d(115.55555%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-34f76f48-f7eb-4a0a-855f-422ac09d275e","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4f84f267-6f54-4279-a6e5-62991677adf6","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Q3 Growth Nearly Doubles Year-on-Year: The growth rate in Q3FY24 is almost twice as fast as the 4.3% recorded in Q3FY23.

[{"selector":"#anim-9dcdf72e-0f98-4ad5-bc90-083db416bc9b","keyframes":{"transform":["translate3d(115.55555%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-014aa538-d4e4-4cb3-826c-9d601e386e6b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-af3d6c58-5e68-4ac4-a1cb-50bd2024b8df","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

NSO Revises FY24 GDP Growth Estimate to 7.6%: The National Statistical Office has increased its GDP growth forecast for FY24.

[{"selector":"#anim-fcfe57c9-3829-4cfa-bb33-0127e79b7b37","keyframes":{"transform":["translate3d(115.55555%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b5a9adf1-e44e-4a68-b4f8-30bba29a6e20","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-936d1228-2293-4bdc-8a03-d8857540658c","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Manufacturing Sector Expands 11.6% in Q3: A significant year-on-year growth in manufacturing, overcoming a previous decline.

[{"selector":"#anim-846c6775-98be-4d16-8940-de7fa191ff71","keyframes":{"transform":["translate3d(115.55555%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-db4bc1fc-dfcc-4d53-8ded-5a7c7cd00b14","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b6fc2c7a-6983-4ce4-b60d-35f5317f81a5","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Agricultural Sector Faces Slowdown: Agriculture growth recedes due to uneven monsoon, impacting rural consumption.

[{"selector":"#anim-3464bc36-bcd3-4a26-8dae-99cb630c436f","keyframes":{"transform":["translate3d(115.55555%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-614c198a-6898-4375-9d98-9adf6490df3a","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-59f11731-fd0e-4dfc-a74c-a135fdf81cb7","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Investment Indicator GFCF Picks Up Pace: Gross Fixed Capital Formation indicates a strong 32.4% growth in investments.

[{"selector":"#anim-c9cc8b44-ba26-47b5-9908-b617a0c8c0db","keyframes":{"transform":["translate3d(115.23810%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0185f3b6-2e94-423f-b26e-0fa916636402","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d580c730-8c37-4e3f-8410-93a79d979b31","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Marginal Decline in Government and Household Consumption: A slight decrease in government spending and household consumption expenditure noted.

[{"selector":"#anim-b8838215-3eee-4455-8712-e477b9b4f56e","keyframes":{"transform":["translate3d(115.55555%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-45fc92a7-aa57-4717-8a41-bbfb46a16cec","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a4a29271-1d86-4835-aedd-f6456d23d8cc","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Exports Share in GDP Slightly Decreases: The proportion of exports in GDP shows a minor reduction compared to the previous year.

[{"selector":"#anim-8e998d33-df03-4a96-8d6b-63af8566fddc","keyframes":{"transform":["translate3d(115.23810%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-324180a0-fe5c-4e1c-b40b-77985886a410","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-dd1bacaa-7a23-4eb4-90ad-43b116c5c5cc","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Capital Investments and Manufacturing Drive Growth: The government's focus on boosting capital investments along with manufacturing sector growth fuels economic momentum.

[{"selector":"#anim-5d4ea860-e8e1-4778-b47a-da9313ecc7ce","keyframes":{"transform":["translate3d(115.55555%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bf400f34-203c-4df7-88c4-95a808a9a3c5","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c975a663-f5ca-4790-9e7e-cd8b0321a06e","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Learn more