India's Q1 FY22 GDP growth posted a stellar performance on YoY basis (20.1%) as well as in comparison to major peers.
Download ReportIndia Q1 FY22 GDP: Basically stellar
India’s Q1 FY22 GDP growth posted a stellar performance on YoY basis (20.1%) as well as in comparison to major peers. The base supported recovery continues to be led by the industrial sector with agriculture and services chugging along. On demand side, investments and exports provide the mainstay. Nevertheless, the second wave of COVID did take a toll with GDP registering a significant sequential contraction in Q1 FY22, which got camouflaged by an extraordinary statistical support. This will now provide a mild downside risk to our FY22 GDP growth estimate of 10.0%. Going forward, the anticipation of V-shaped recovery and sequential improvement in economic activity continues to rest on strong global demand, incremental progress on vaccination coverage, above normal kharif sowing, and policy support.