INDIA GDP GROWTH RATE

The Gross Domestic Product (GDP) in India expanded 8.90 percent in the third quarter of 2010 over the previous quarter. From 2004 until 2010, India's average quarterly GDP Growth was 8.40 percent reaching an historical high of 10.10 percent in September of 2006 and a record low of 5.50 percent in December of 2004. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Services are the major source of economic growth, accounting for more than half of India's output with less than one third of its labor force. The economy has posted an average growth rate of more than 7% in the decade since 1997, reducing poverty by about 10 percentage points. This page includes: India GDP Growth Rate chart, historical data and news.

Country India

Interest Rate 5.25%

Growth Rate 8.90%

Inflation Rate 9.70%

Jobless Rate 8.00%

Current Account -14

Exchange Rate 44.7050

Date Selection

Members Only. Please Signup

January 2011

2007
to

January

EXPORT DATA

COMPARE

RANK

GET FORECAST

Loading Chart. Please Wait.

Year 2010 2009 2008

Mar 8.60 5.80 8.50

Jun 8.90 6.00 7.80

Sep 8.90 8.60 7.50

Dec

6.50 6.10

INDIA GDP SURGES 8.9% IN THE THIRD QUARTER

Published: 12/2/2010 9:09:35 AM By: TradingEconomics.com, Reuters

India's domestically-powered economy grew more than expected in the September quarter, defying weakness elsewhere and putting pressure on the Reserve Bank of India (RBI) to tighten monetary policy although a rate increase next month still looks unlikely.

Annual gross domestic product grew 8.9 percent in the September quarter -- matching the revised figure for the previous quarter. Consumer price inflation eased to an annual 9.7 percent in October from 9.82 percent the previous month, data showed on Tuesday. Wholesale price inflation, which is more closely watched as it covers a higher number of products, eased to 8.58 percent in October from 8.62 percent a month earlier. Investment growth slowed on an annualised basis to 11.1 percent from 19 percent in the previous quarter, while annualised private consumption accelerated to 9.3 percent from 7.8 percent in the previous quarter, pointing to inflationary risks. The services sector, which accounts for over 50 percent of GDP, grew 9.8 percent in the September quarter, higher than 9.3 percent in the previous quarter. Signs of easing inflation, a fragile global economy and weaker industrial output in September were likely to forestall any rise in rates in the nearterm, some analysts said. "Unless the full year growth looks likely to cross 9 percent, the central bank is unlikely to get aggressive again in raising rates," said Anjali Varma, economist at MF Global in Mumbai. Industrial output growth -- a key indicator of growth momentum -- in Asia's third-largest economy slowed unexpectedly in September to 4.4 percent from a year earlier, down from the previous month's upwardly revised 6.92 percent growth.