India retained the fastest-growing major economy tag as the country’s GDP grew by 6.2 percent in the third quarter of FY25, up from the revised rate of 5.6 percent in the previous quarter.

• India recorded a GDP growth of 8.6 percent in the third quarter of the last fiscal year.
• The increase in the third-quarter GDP number was supported by higher rural consumption following a good monsoon and increased government spending.
• As per the First Revised Estimates released by the Ministry of Statistics and Programme Implementation (MoSPI), real GDP is estimated to grow by 6.5 percent in FY 2024-25, and nominal GDP is expected to witness a growth rate of 9.9 percent in the fiscal year. 
• MoSPI data also highlighted that India’s real GDP grew by 9.2 percent in the financial year 2023-24, the highest annual growth in 12 years, excluding the post-pandemic rebound in FY22.
• This growth was attributed to double-digit growth in the ‘Manufacturing’ sector (12.3 percent), the ‘Construction’ sector (10.4 percent), and the ‘Financial, Real Estate & Professional Services’ sector (10.3 percent).