India Real GDP Growth

The India real GDP growth summarizes the overall development of the Indian economy. Further, the India real GDP growth analyzes the performance of different Indian industries across sectors. The growth of the real GDP of Indian economy focuses on the key points of the latest developments and forecasts of Indian economy. It also gives a measure of the key contributors to the Indian economy like manufacturing industry, service industry, banking and investments industry, infrastructure, agriculture, etc.

The latest developments and forecasts of the India real GDP growth news are as follows -

• India's economy grew at 9.3% in quarter April-June and it was driven by manufacturing, construction and services sector and agriculture sector
• GDP factor for the first quarter of 2007-08 was at Rs 7,23,132 crore, registering a growth rate of 9.3% over the corresponding quarter of previous year
• India's Industrial Growth - for the first time has exceeded 10%
• Manufacturing industry registered 11.9% growth
• The passenger vehicles sector grew by 11.61% during April-May 2007
• The mining and quarrying sector has registered a growth of 4%
• Electricity sector recorded 12% growth
• Consumer durables and non-durables have also recorded upswings
• FIIs - net investments in equities crossed US$ 7 billion in calendar 2006
• FDI - India envisage of attracting $10 billion of foreign direct investment (FDI) this year as inflows have nearly doubled to US$ 4.4 billion
• Services attracted maximum investment of US$ 1.5 billion
• Growth in bank credit, year on year, by 29.6%; expansion in money supply (M3) by 21.3%, foreign exchange reserves at US$ 180 billion
• Telecommunication sector with inflows of US$ 405 million has registered the maximum growth of 950%
• Corporate India has recorded its highest rise in salaries at 22% in the first half of 2006-07
• The Invisibles Account - remained positive during last financial year and financed 2/3 of the trade deficit
• India's Foreign Exchange Reserves were US$ 166.2 billion as on October 2006
• Electricity, gas & water supply performed well and recorded an impressive growth rate of 8.3% Construction growth rate rose to 10.7%
• Trade, hotels, transport and communication registered a growth rate of 12%
• Financing, insurance, real estate and business services recorded an impressive growth rate of 11% during the 1st quarter of this fiscal year
• The annual inflation rate was 4.45% for the week ended July 28, 2007
• Community, social and personal services maintained a decent growth rate of 7.6%
• The growth rate of agriculture, forestry & fishing' and 'mining & quarrying' are estimated at 3.8 per cent, and 3.2% respectively during the 1st quarter of 2007-2008
• Exports grew by 18.11% during the 1st quarter of 2007-2008 and the imports shot up by 34.30% during the same period
• India's FOREX reserves (excluding Gold and SDRs) stood at $219.75 billion at the end of July '07
• The food sector is estimated to be of US$ 200 billion and it is expected to grow to $310 billion by 2015
• Stocks of food-grains grew by 13.1% to 17.73 million tonnes
• Pressure on domestic prices by global commodity prices and supply constraints in some essential commodities - consequently the average inflation in 2006-07 is estimated at between 5.2 and 5.4% in India Union Budget 2007- 2008
• Allocations for major sectors, like increase in provision for Bharat Nirman by 31.6% from Rs.18, 696 crore to Rs.24, 603 crore, for education by 34.2% to Rs.32, 352 crore & for health and family welfare by 21.9% to Rs.15, 291 crore