The Indian economy likely grew 8% in the April-June quarter, with the underlying momentum remaining broad-based, according to State Bank of India’s (SBI) research department. The projection is sharply higher than the Reserve Bank of India’s forecast of 7% for the quarter.
SBI’s forecast is based on its nowcasting model, which tracks more than 50 leading indicators across consumption, agriculture, industry, and services. About 86% of these indicators showed growth in April-June, compared with 69% a year ago.
“Consumption and demand remain resilient… High-frequency demand indicators continue to support growth outlook, while industrial activity remains broadly satisfactory barring a few pockets… while Services provide further support,” SBI said in a report, adding that other indicators also corroborate its 8% growth estimate. Barring a few indicators, India’s industrial growth is quite satisfactory, the report added.
Capital expenditure by Central and state governments also supported domestic growth in the first quarter of FY27, the report said.
India’s GDP grew 7.8% in the January-March quarter and 6.8% in the April-June quarter of 2025. The government is scheduled to release April-June GDP data on August 31.
“Data of July high-frequency indicators and monsoon progress suggest continued growth momentum. Thus, we believe that going forward, growth is likely to be robust,” the SBI report said.
TOPICSGDP growthThis article was first uploaded on August eleven, twenty twenty-six, at eight minutes past ten in the night. © The Indian Express (P) Ltd