India Set to Lead Global Growth: GDP Projected to Surge by 7.4% in FY26
The first advance estimates also show that real gross value added is estimated to grow at 7.3 per cent during the current financial year.
India Set to Lead Global Growth: GDP Projected to Surge by 7.4% in FY26
The Indian economy is set to become the world's fastest-growing major economy with estimated growth of 7.4 per cent in the current fiscal year. According to the first advance estimates released by the Ministry of Statistics and Programme Implementation (MoSPI), this growth marks a significant rise from the 6.5 per cent recorded in the previous financial year.
Growth Drivers and Sectoral Trends
According to official data, the better-than-expected showing is largely attributed to resilience in the manufacturing and services sectors. The manufacturing sector is expected to post a 7 per cent growth in gross value added in the current fiscal year, up from 4.5 per cent in 2024-25. Additionally, reports from The Tribune indicate that growth in the services sector has been estimated at 9.1 per cent versus 7.2 per cent in the previous year.
Resilience Amid Global Challenges
As per reports, this economic strength comes despite global trade tensions and geopolitical uncertainty. The first advance estimates also show that real gross value added is estimated to grow at 7.3 per cent during the current financial year. However, according to the ministry data, the agriculture and allied sector moderated to 3.1 per cent in the current fiscal year from 4.6 per cent in 2024-25.
Strategic Impact
These official estimates serve as a critical benchmark for the preparation of the upcoming Union Budget, scheduled for February 1. By surpassing the initial projections of various agencies, the data reinforces the steady momentum of the Indian economy across key sectors.
Source: The Tribune