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Business
India's GDP jumps 7.8% in Q1 2024, signaling robust growth
✍️ Deccan Herald
🗓 01 Sep 2026, 06:45 AM
👁 66
India's economy grew 7.8% year‑on‑year in the first quarter, according to the latest government data.
India's national accounts data released on Tuesday showed a 7.8% year‑on‑year expansion in gross domestic product for the January‑March quarter of 2024. The growth rate exceeds the government's target of 6.5% and marks a rebound from the 6.1% increase recorded in the previous quarter.
The surge was driven by strong consumer spending, a rise in private investment and continued resilience in the services sector, which together accounted for the bulk of the expansion. The Ministry of Statistics and Programme Implementation also noted a modest rise in manufacturing output, helping to broaden the economic base.
Analysts view the figure as a positive signal for upcoming fiscal and monetary policy discussions, while cautioning that external risks such as global trade tensions remain.
The surge was driven by strong consumer spending, a rise in private investment and continued resilience in the services sector, which together accounted for the bulk of the expansion. The Ministry of Statistics and Programme Implementation also noted a modest rise in manufacturing output, helping to broaden the economic base.
Analysts view the figure as a positive signal for upcoming fiscal and monetary policy discussions, while cautioning that external risks such as global trade tensions remain.