Latest News | With 6.5 Pc GDP Growth in FY25, India Retained Position as World's Fastest Growing Economy: Assocham
Get latest articles and stories on Latest News at LatestLY. Industry body Assocham on Friday said India retained its position as the world's fastest-growing major economy in 2024-25, with real GDP expanding 6.5 per cent.
New Delhi, May 30 (PTI) Industry body Assocham on Friday said India retained its position as the world's fastest-growing major economy in 2024-25, with real GDP expanding 6.5 per cent.
Growth accelerated more in the second half as compared to the first half, achieving a 7.4 per cent rise during the March quarter.
"This pick-up was supported by robust domestic demand, strong public infrastructure investment and shifting global supply chains that increasingly favour India amid geopolitical reorientations," Assocham President Sanjay Nayar said.
He further said construction, manufacturing and services sectors were key drivers of this momentum, strengthening India's macroeconomic stability and global growth leadership.
The 6.5 per cent growth rate during the fiscal year elevated the size of India's economy to USD 3.9 trillion and held promise of crossing world's fourth-largest economy Japan in FY26.
The Indian economy grew at 7.4 per cent in January-March -- the fourth and final quarter of April 2024 to March 2025 fiscal (FY25) -- reflecting a strong cyclical rebound that was helped by a rise in private consumption and robust growth in construction and manufacturing.
The expansion of 7.4 per cent during January-March 2025 was the best in the fiscal year.
The 6.5 per cent growth in FY25 was in line with the government projection made in February. This growth was the slowest in four years, and compared to a 9.2 per cent expansion in the previous 2023-24 fiscal year.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)