India’s GDP grows 20.1 % in April to June quarter

India’s GDP (gross domestic product) grew by 20.1% in the April to June quarter (first quarter) of the 2021–22 financial year. The sharp rise was buttressed on low base numbers reported one year ago. In the corresponding period of 2020–21, India’s gross domestic product (GDP) had contracted by 24.4%, according to data released by the National Statistical Office (NSO). The period had seen the Indian government impose a strict lockdown to contain the spread of COVID-19. 

The April to June nominal GDP growth was 31.7%. Gross Value Added (GVA) expanded 18.8% Year-on-Year (YoY); the construction sector reported a growth of 68.3%; the manufacturing sector 49.6% and the mining sector 18.6%. 

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The trade, hotels, transport, communication & services related to broadcasting gained 34.3%. The agriculture, forestry and fishing sector grew by 4.5% in the first quarter. 

The index of eight “core” industries were revised upwards from its provisional 56.1% to 62.6%. Core sector growth was reported at 9.4%. Seven of the eight sectors have grown, except crude oil which declined. April saw a sharp rise in the core sector by 56.1% YoY, while in May, the core sector output saw a growth of 16.8%. In June, the core sector output rose by 8.9%.