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India’s GDP to grow by 7.4% in FY26 on strong performance in services, manufacturing sectors: MoSPI
Jan-07-2026

The National Statistics Office (NSO) under the Ministry of Statistics and Programme Implementation (MoSPI) in its the First Advance Estimates has estimated that India’s Real Gross Domestic Product (GDP) to grow by 7.4% in FY 2025-26 against the growth rate of 6.5% during FY 2024-25, buoyant by strong performance in the services and manufacturing sectors. Besides, nominal GDP is estimated to grow at 8.0% in FY 2025-26. In absolute terms, real GDP or GDP at Constant Prices is estimated to attain a level of Rs 201.90 lakh crore in FY 2025-26, against the Provisional Estimates (PE) of GDP for the FY 2024-25 of Rs 187.97 lakh crore. Nominal GDP or GDP at Current Prices is estimated to attain a level of Rs 357.14 lakh crore in the FY 2025-26, against Rs 330.68 lakh crore in FY 2024-25.

Real GVA is estimated at Rs 184.50 lakh crore in the FY 2025-26, against the Provisional Estimates (PE) for the FY 2024-25 of Rs 171.87 lakh crore, registering a growth rate of 7.3%. Nominal GVA is estimated to attain a level of Rs 323.48 lakh crore during FY 2025-26, against Rs 300.22 lakh crore in FY 2024-25, showing a growth rate of 7.7%.

The data showed that Manufacturing and Construction in the Secondary Sector has been estimated to achieve a growth rate of 7.0% at Constant Prices in FY 2025-26. Financial, Real Estate & Professional Services and Public Administration, Defence & Other Services in the Tertiary Sector have been estimated to attain a substantial growth rate of 9.9% at Constant Prices in FY 2025-26. Trade, Hotels, Transport, Communication & Services related to Broadcasting Sector has been estimated to grow by 7.5% at Constant Prices in FY 2025-26. 

Moreover, Agriculture & Allied Sector GVA (at 2011-12 prices) is estimated to grow at a moderate rate of 3.1% during FY 2025-26 as compared to 4.6% during FY 2024-25. Similarly, Electricity, Gas, Water Supply & Other Utility Services Sector GVA (at 2011-12 prices) to grow at 2.1% during FY 2025-26 as compared to 5.9% during FY 2024-25. Besides, Real Private Final Consumption Expenditure (PFCE) has been estimated to attain a growth rate of 7.0% during FY 2025-26.  Gross Fixed Capital Formation (GFCF) has been estimated to have 7.8% growth rate at Constant Prices during FY 2025-26, compared to 7.1% growth rate in previous FY.

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