India's GDP expands 7.8% in Q1FY27, nominal growth tops 10%

The Indian economy recorded a growth of 7.8% in the April-June period of the current fiscal year as against 6.9% a year ago, according to government data released on Monday. Real Gross Domestic Product, or GDP at constant prices, in the first quarter of FY27 is estimated at Rs 81.36 lakh crore, against Rs 75.46 lakh crore in the corresponding quarter of 2025-26. Nominal GDP, or GDP at current prices, in the April-June quarter of the current fiscal year is estimated at Rs 88.27 lakh crore, against Rs 80 lakh crore in the first quarter of 2025-26, expanding around 10%. Gross value added, a measure of economic activity that excludes taxes and subsidies, grew at 8.2% in real terms, up from 7.1% in the corresponding period last fiscal.

Data showed that India’s Agricultural growth slowed to 3.6% YoY in Q1 FY27 from 4.4% a year earlier, while the mining sector contracted 2.4% compared to a stellar 12.4% growth in the corresponding period last fiscal. manufacturing sector grew 9.2% in Q1 compared to 8.3% a year ago. Construction zoomed up 7.7% against 5.2% last fiscal.

GDP growth has moderated compared to the robust expansion of 8.6% seen in March quarter.

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