India’s GDP growth slows to 6.2% in Q3 amid manufacturing, mining slump

India’s economic growth moderated to 6.2% in the October-December quarter of the 2024-25 fiscal, marking a slowdown from the 9.5% expansion recorded in the same period a year earlier, according to data released by the National Statistical Office (NSO) on Feb 28.

The deceleration was primarily driven by sluggish performance in the manufacturing and mining sectors. The latest figures follow a 5.6% GDP growth rate in the preceding July- September quarter, per data.

In its second advance estimate, the NSO pegged full-year GDP growth for 2024-25 at 6.5%, slightly above the 6.4% forecast made in January. Additionally, the agency revised India’s GDP growth for 2023-24 upward to 9.2% from its earlier estimate of 8.2%.

The latest data underscores the challenges facing India’s economic recovery as global headwinds and domestic sectoral slowdowns weigh on growth prospects.