India Retains Fastest-Growing Economy Tag with 6.2% GDP Growth in Q3 FY25

India retains 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).