India GDP Growth Seen At 3-Quarter Low Of 6.6%

According to the Informist Poll, India’s GDP growth in Q3FY24 is projected to be 6.6%, marking a three-quarter low. This decline is attributed to the statistical normalization effect after a period of robust growth. However, SBI Research offers a more optimistic outlook, estimating Q3FY24 GDP growth at 6.8% based on an unchanged base. Potential downward revisions in Q3FY23 estimates could even propel it to 7%. Watch Siddharth Zarabi, Managing Editor, Business Today TV, in conversation with Aditi Nayar, Chief Economist at ICRA and Achala Jethmalani, Economist, RBL Bank as they discuss expectations and challenges surrounding India's Q3 GDP. Nayar expects that India's GDP growth will moderate to six percent in Q3FY24 dragged by lower output of kharif crops and slowdown in the industrial sector. The economy will likely ease in Q4FY24 as well, she adds.