Quarterly Economic Update
1Estimation of GDP (Gross Domestic Product) and GVA (Gross Value Added) by Reserve Bank of India:

Indian economy is a developing mixed economy. It is estimated to achieve a growth of 7.2% in 2018-19, higher as compared to 6.7% recorded in 2017-18.1

Quarterly GDP at constant prices (2011-12) for Q3 of 2018-19 is estimated at US$ 523 bn against US$ 492 bn in Q3 of 2017-18 (marking a growth rate of 5.95 %)2

Gross Fixed Capital Formation, which stands as the proxy for Investments, at constant prices (2011-12) has increased to US$ 195 bn in Q3 of 2018-19 from US$ 192 bn in Q3 of 2017-18. Economic activities registering growth over 6% are:

Manufacturing, Electricity and gas, Water supply & other utility services, Construction, Finance and Real Estate, Trade, Hotels, Transport, Communication and Services Related to Broadcasting, Public Administration, Defense and Other services

Sources: 1, 2, 3

2Growth rates registered by various sectors:
3Agriculture, forestry and fishing

GDP From Agriculture in India increased to US$ 84.23 bn in the 4th quarter of 2018 from US$51.01 bn in the third quarter of 2018.1 Growth rate expected during the Kharif season of September-October 2018: Sugarcane (3%), Cotton (15%), Rice (1.4%) and Pulses (11.3%)

Sources 1,


During the month of January 2019, 11 out of the 23 industry groups (as per 2-digit NIC-2008) in the manufacturing sector have shown growth, as compared to January 2018.1 Top 3 sectors that have shown growth during the month of January 2019 are: Manufacture of food products (17%) Manufacture of wearing apparel (16.4%) Printing and reproduction of recorded media (10.4%)2

Sources 1, 2

5Services sector

The services sector is the key driver of India's economic growth. It contributed 54.17% of India's Gross Value added at current price in 2018-19. 1 The Service sector has received the most FDI inflows during 2000-2018. The Growth rate of GVA witnessed in following sectors during 2018-19: Trade, hotels, transport, communication & services related to broadcasting (6.8%) Financial Services, Real-estate & professional services (7.3%) Public Administration, Defence and other services (8.5%) 2

Sources 1,

June 2019