India's GDP update: Growth accelerates to 7.7% despite geopolitical strains

KOCHI: India’s Gross Domestic Product (GDP) growth accelerated to 7.7% in the recently concluded financial year, marking a robust economic performance despite persistent global uncertainties and high fuel prices. This is a notable increase from the 7.1% growth recorded in the previous fiscal year.

The economic momentum was particularly strong in the January–March quarter, where the country registered a growth rate of 7.8% despite intensifying global conflicts. This strong performance contradicts several initial forecasts that predicted a slowdown in India's economic growth due to domestic and international market pressures.

According to data released by the Union Ministry of Statistics, the latest GDP calculations were compiled under a new series using 2022–23 as the base year. The nation's real GDP, calculated at constant prices, rose to ₹323.12 lakh crore in the current financial year, up from ₹299.89 lakh crore in the preceding year.

A retrospective look at India’s annual GDP growth trajectory highlights the following trends:

• 2021–22: 8.7%
• 2022–23: 7.2%
• 2023–24: 9.2%
• 2024–25: 7.1%
• 2025–26: 7.7%

The latest figures underscore the resilience of the Indian economy, which continues to outpace expectations and sustain a steady upward trajectory amid a challenging global fiscal landscape.