India GDP Nowcast projects an increase of 17.3% y/y for Q3 2021, and 9.8% y/y for Q4 2021 as of November 8, 2021
CEIC's GDP nowcast for India projects a growth of 17.3% y/y in Q3 2021 (or Q2 FY2022). The Q4 2021 (Q3 FY2022) is expected to grow by 9.6% y/y, as on November 8, 2021. The Q4 2021 GDP nowcast declined 0.2 pp to 9.6% y/y on November 8 on account of electricity generation, despite the indicator registering a growth of of 2.9% y/y in October, after declining in September by 1.8% y/y.
The nowcast for both Q3 2021 and Q4 2021 have increased 0.1pp and 0.8pp, respectively, in comparison to previous week. However, the increase in Q4 2021 nowcast has been volatile. Exports contributed substantially to the growth of the Q4 2021 nowcast, but non-oil imports, finished steel production, scheduled commercial bank credit, and foreign exchange rate offset the increase.
Further data and analysis on India’s economy are available on the CEIC India Economy in a Snapshot – Q3 2021 report.