The Gross Domestic Product (GDP) in India contracted 25.20 percent in the second quarter of 2020 over the previous quarter.

GDP Growth Rate in India averaged 1.36 percent from 1996 until 2020, reaching an all time high of 5.80 percent in the second quarter of 2009 and a record low of -25.20 percent in the second quarter of 2020. This page provides - India GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. India GDP Growth Rate - values, historical data and charts - was last updated on October of 2020.

GDP Growth Rate in India is expected to be -2.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in India to stand at 2.30 in 12 months time. In the long-term, the India GDP Growth Rate is projected to trend around 2.20 percent in 2021 and 1.00 percent in 2022, according to our econometric models.

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India GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-25.20 0.70 5.80 -25.20 1996 - 2020 percent Quarterly

India GDP Growth Rate
In India, the growth rate in GDP measures the change in the seasonally adjusted value of the goods and services produced by the Indian economy during the quarter. India is the world’s tenth largest economy and the second most populous. The most important and the fastest growing sector of Indian economy are services. Trade, hotels, transport and communication; financing, insurance, real estate and business services and community, social and personal services account for more than 60 percent of GDP. Agriculture, forestry and fishing constitute around 12 percent of the output, but employs more than 50 percent of the labor force. Manufacturing accounts for 15 percent of GDP, construction for another 8 percent and mining, quarrying, electricity, gas and water supply for the remaining 5 percent.