India’s GDP growth rate for the third quarter of FY26 slowed to 7.8%, down from 8.4% in the previous quarter, according to a report by SBI Research. The revised GDP series also indicates a larger economic base and emphasizes the increasing role of manufacturing in driving growth.
The full-year growth projection for FY26 stands at 7.6%, slightly higher than the earlier estimate of 7.4% under the old series. The report highlights that the economy has expanded significantly in the new base year, attributing it to better data coverage and improved methodology.
Under the revised series, FY24 growth has been adjusted to 7.2% from 9.2%, while FY25 growth has been revised upward to 7.1% from 6.5%. Real GDP levels have notably surged, with FY23 real GDP at Rs 261 lakh crore and FY25 real GDP at Rs 300 lakh crore.
Manufacturing emerges as a key performer in the revised data, showing double-digit growth rates in FY24 and FY26. The services sector also displays strong momentum, with an estimated growth of 9% in FY26. However, agriculture and allied activities experienced a slight slowdown.
Financial, real estate, IT, and professional services sectors recorded robust expansion, indicating a positive trend in specific segments of the economy.
