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Business
India's GDP Surpasses Forecast, Growing 7.8% in Q4 2023-24
✍️ ft.com
🗓 01 Sep 2026, 11:40 AM
👁 18
India's fourth‑quarter GDP grew 7.8% year‑on‑year, surpassing the 7.5% forecast released by the Ministry of Statistics and Programme Implementation.
On Thursday, the Ministry of Statistics and Programme Implementation released the latest quarterly growth figures, showing that India’s gross domestic product expanded by 7.8% year‑on‑year in the fourth quarter of the 2023‑24 financial year. The figure eclipses the 7.5% growth rate that analysts had projected for the period.
The fourth‑quarter growth rate is a slight uptick from the 7.6% recorded in the third quarter, indicating a steady acceleration in the country’s economic activity. The data covers a period that includes the festive season and the onset of the monsoon, both of which traditionally influence consumption and investment patterns.
Economists view the stronger-than‑expected growth as a sign that domestic demand remains robust and that policy measures aimed at boosting manufacturing and services are bearing fruit. The result also supports the government’s target of sustaining double‑digit growth for the fiscal year.
While the report does not detail sector‑specific contributions, the overall rise suggests that the economy is navigating through global uncertainties and continuing to expand at a pace that keeps India among the fastest‑growing major economies in the world.
The fourth‑quarter growth rate is a slight uptick from the 7.6% recorded in the third quarter, indicating a steady acceleration in the country’s economic activity. The data covers a period that includes the festive season and the onset of the monsoon, both of which traditionally influence consumption and investment patterns.
Economists view the stronger-than‑expected growth as a sign that domestic demand remains robust and that policy measures aimed at boosting manufacturing and services are bearing fruit. The result also supports the government’s target of sustaining double‑digit growth for the fiscal year.
While the report does not detail sector‑specific contributions, the overall rise suggests that the economy is navigating through global uncertainties and continuing to expand at a pace that keeps India among the fastest‑growing major economies in the world.