India's GDP Growth Resilience Amid Global Challenges: An Analysis

SBI Research estimates India's GDP growth rate at 6.2-6.3% for October-December 2024, citing robust demand and capex trends. Despite global uncertainties and supply chain disruptions, India remains one of the fastest-growing economies. Full-year 2024-25 GDP forecast stands at 6.3% with continued rural and infrastructure momentum.

India's GDP growth has been estimated to be between 6.2% and 6.3% for the October-December quarter of 2024, according to a report by SBI Research. The official statistics are anticipated on February 28, with the nation maintaining its status as one of the world's fastest-expanding economies.

Earlier, India saw a 5.4% growth in the July-September period, falling short of the RBI's 7% projection. However, demand and investment trends display strength in Q3, bolstered by a stable rural economy, steady agriculture wages, and boosted domestic sales.

SBI's predictive model based on 36 indicators suggests a robust underlying economic structure. The IMF forecasts growth at 6.5% for the next two fiscal years, supported by internal demand and policy strategies. India's economy exemplifies resilience amid global geopolitical and supply chain challenges.

(With inputs from agencies.)