India’s National Statistics Office has released the First Advance Estimates of Gross Domestic Product for FY 2025-26. The estimates show stronger economic growth, led mainly by services, with healthy expansion in manufacturing, construction and investment. The data also includes sector-wise Gross Value Added, expenditure components, and income estimates at constant and current prices.
GDP Growth Estimate
Real GDP at constant prices is estimated at ₹201.90 lakh crore in FY 2025-26, up from ₹187.97 lakh crore in FY 2024-25. This implies a growth rate of 7.4%, compared with 6.5% in the previous financial year. Nominal GDP at current prices is projected at ₹357.14 lakh crore, reflecting 8.0% growth.
Sectoral Performance
The services sector is expected to remain the main growth driver. Real GVA is estimated to grow by 7.3% in FY 2025-26. Key segments include:
- Financial, real estate and professional services, and public administration, defence and other services – 9.9% growth.
- Trade, hotels, transport, communication and broadcasting-related services – 7.5% growth.
- Manufacturing and construction – 7.0% growth.
- Agriculture and allied activities – 3.1% growth.
- Electricity, gas, water supply and other utility services – 2.1% growth.
Expenditure Side Indicators
Real Private Final Consumption Expenditure is estimated to grow by 7.0% in FY 2025-26. Gross Fixed Capital Formation is projected to rise by 7.8%, higher than the 7.1% growth recorded in the previous year. This suggests continued momentum in household demand and investment activity.
Methodology and Revision Process
The advance estimates are compiled using the benchmark-indicator method, based on sectoral indicators such as IIP, company financial results, crop estimates, GST data, transport activity, bank credit and government accounts. The estimates will be revised later as more data becomes available. MoSPI is also revising the base year of national accounts from FY 2011-12 to FY 2022-23, which will affect future GDP and GVA series.
Last Modified: April 25, 2026