Quote on GDP by Aditi Nayar, Chief Economist, ICRA Ltd
Below the Quote on GDP by Aditi Nayar, Chief Economist, ICRA Ltd
"India’s GDP growth moderated to 7.8% in Q1 FY2027 from the upward revised 8.6% in Q4 FY2026, while exceeding ICRA’s estimate of 7.0% for the quarter. As we had anticipated, the GVA growth also decelerated between these quarters, while printing above the 8.0%-mark in Q1, and exceeding the GDP growth for the quarter. Overall, economic activity remained robust during the April-June quarter despite the adverse impact of the West Asia conflict on some sectors as well as the unfolding impact of the uneven monsoon.
Among the sectors, the growth in the manufacturing GVA exceeded expectations, accelerating to 9.2% in Q1 FY2027 from 7.9% in Q4 FY2026, likely reflecting the uptick in volume growth between these quarters, amid an unfavourable base. Besides, services growth also outperformed expectations in Q1, printing in double-digits for the third consecutive quarter, notwithstanding the deceleration as compared to the double-digit growth seen in Q4 FY2026."
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