India’s Gross Domestic Product (GDP) witnessed a robust growth of 7.6% in the July-September period, surpassing economists’ projections. Forecasts had anticipated a growth rate of 6.8%, with the Reserve Bank of India’s (RBI) estimate at 6.5%. The unexpected surge in the last quarter was propelled by a notable increase in manufacturing and construction activities.

The manufacturing sector’s gross value added (GVA) soared by 13.9% year-on-year in July-September, a significant jump from 4.7% in April-June. Similarly, the construction sector experienced a surge with a 13.3% growth, compared to 7.9% in the preceding quarter. In contrast, agricultural growth decelerated to 1.2% from 3.5% in April-June.

The buoyant GDP figures exceeded earlier warnings from the government and RBI, with Economic Affairs Secretary Ajay Seth anticipating a positive growth number. RBI Governor Shaktikanta Das had previously hinted at the potential for a pleasant surprise in the July-September growth rate, citing early data points and economic activity momentum.

As the economy demonstrates resilience and outperforms predictions, this robust growth underscores the pivotal role played by the manufacturing and construction sectors in driving India’s economic momentum during the specified quarter.

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