India's GDP grows 8.2% in Q2 FY26

The National Statistics Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) in its latest data has showed that India’s economy grew by 8.2 per cent in July-September quarter (Q2) of the fiscal year 2025-26 against the growth rate of 5.6% during Q2 of FY 2024-25, helped by robust manufacturing and a buoyant services sector, especially financial, real estate and professional services. Nominal GDP has witnessed a growth rate of 8.7% in Q2 of FY 2025-26. Real GDP or GDP at Constant Prices in April-September of 2025-26 (H1 2025-26) is estimated at Rs 96.52 lakh crore, against Rs 89.35 lakh crore in H1 of 2024-25, registering a growth rate of 8.0%. Nominal GDP or GDP at Current Prices in H1 of 2025-26 is estimated at Rs 171.30 lakh crore, against Rs 157.48 lakh crore in H1 of 2024-25, showing a growth rate of 8.8%

As per the data, Real GDP or GDP at Constant Prices in Q2 of FY 2025-26 is estimated at Rs 48.63 lakh crore, against Rs 44.94 lakh crore in Q2 of FY 2024-25, registering a growth rate of 8.2%. Nominal GDP or GDP at Current Prices in Q2 of FY 2025-26 is estimated at Rs 85.25 lakh crore, against Rs 78.40 lakh crore in Q2 of FY 2024-25, showing a growth rate of 8.7%. Real GVA in Q2 of FY 2025-26 is estimated at Rs 44.77 lakh crore, against Rs 41.41 lakh crore in Q2 of FY 2024-25, registering a growth rate of 8.1%. Nominal GVA in Q2 of FY 2025-26 is estimated at Rs 77.69 lakh crore, against Rs 71.45 lakh crore in Q2 of FY 2024- 25, showing a growth rate of 8.7%.

Among the sectors, the agriculture sector recorded a 3.5 per cent growth in July-September period of 2025-26, down from 4.1 per cent in the July-September period of 2024-25. Manufacturing sector growth increased at 9.1 per cent in the second quarter of FY26 compared to 2.2 per cent recorded in the year-ago period. Mining & quarrying (-0.04 per cent) and electricity, gas, water supply and other utility services sector (4.4 per cent) has seen improved real growth rate during Q2 of FY 2025-26. Tertiary sector has recorded a substantial growth rate of 9.2 per cent in Q2 of FY 2025-26, over the growth rate of 7.2 per cent in Q2 of 2024-25.  Tertiary sector includes services like trade, hotel, transport, financial institutions, real estate, professional services, public administration and defence.

NSO also stated that the Government Final Consumption Expenditure (GFCE) has registered (-2.7) per cent growth rate during Q2 of FY 2025-26, over the growth rate of 4.3 per cent in Q2 of FY 2024-25. Real Private Final Consumption Expenditure (PFCE) has reported 7.9% growth rate during Q2 of FY 2025-26 as compared to the 6.4% growth rate in the corresponding period of previous financial year. Gross Fixed Capital Formation (GFCF) has recorded a 7.3 per cent growth rate at Constant Prices, as against the growth rate of 6.7 per cent in Q2 of FY25. The discrepancies (differences in values calculated using different methods of GDP estimation) jumped to Rs 1.62 lakh crore during the second quarter of this fiscal from Rs (-21,160) crore in the same period year ago.