As per SBI research, India’s GDP grew by 7.8% in Q3FY26 and is estimated to grow at 7.6% in FY26.
• India’s Q3FY26 GDP eased to 7.8% from 8.4% in Q2 under new series. While, FY26 growth 7.6%, compared to FAE 7.4% in old series.
• In new series, FY24 number revised downward to 7.2% from 9.2%, while FY25 numbers revised upward to 7.1% from 6.5%.
• Interestingly, if we look at the levels the real GDP has increased significantly in new base when compared to old base because of better coverage and use of double-digit deflation and other methodological changes. FY23 real GDP has increased to Rs 261 lakh crore compared to Rs 161 lakh crore in old series. FY25 level increased to Rs 300 lakh crore from Rs 188 lakh crore in 2011-12 series.
• Agriculture, Livestock, Forestry & Fishing sector growth declined to 2.4% in FY26, compared to 4.2% in FY25. In Q3FY26, this sector growth declined to 1.4%, compared to last year growth of 5.8% in Q3FY25, may be due to base effect.
• Manufacturing sector has been the major driver in contributing to the resilient performance of the economy in consecutive 3 financial years after rebasing. This sector has attained double digit growth rates in FY24 (12.7%) and FY26 (11.5%). In FY26, the quarterly manufacturing growth continued in double digit in all the quarters; Q1 10.6%, Q2 13.2% and Q3 13.3%.
• The services sector is estimated to grow by 9.0% in FY26, compared to 7.9% in FY24, with robust growth of 10.1% in Trade, Hotels, Transport, Communication & Services related to Broadcasting, Storage. In Q3, services grew by 9.5%, compared to 9.3% in Q2 and 8.2% in Q3FY25. Financial, Real Estate, Ownership of dwelling, IT & Professional Services, grew by 11.2% in Q3, compared to 9.9% in Q2FY26 and 11.1% in FY25.
