SBI projects India's Q3 FY25 GDP at 6.2-6.3%, FY25 GDP at 6.3%

Presuming no major revisions announced in the erstwhile Q1 and Q2 figures by the National Statistical Organization (NSO), SBI estimates the FY25 full year GDP at 6.3 per cent.

Leading indicators show strong upward movement across all domains, including consumer economy, investment demand, industry and services—signalling robust momentum.

Continuing the momentum, a healthy rural economy is further reinforcing stability and sustains momentum in other sectors, it said. Capital expenditure (capex) is showing improvement in Q3 FY25.

The index of industrial production (IIP) manufacturing growth has improved from 3.3 per cent in Q2 FY25 to 4.3  per cent in Q3 and the SBI index also showing positive momentum in Q3.

The Indian corporate sector has reported positive growth/margins in earnings before interest, taxes, depreciation and amortization in the after two quarters, while corporate gross value added has improved substantially quarter on quarter.

The slowdown in Q3 2024—down by intensifying geopolitical developments, supply chain disruption and the consequent imported inflationary pressures—was not just for India. Despite that, India continued to remain one of the fastest growing economies, SBI added.

ALCHEMPro News Desk (DS)