India: External Sector in Robust Health with Current Account Surplus Likely in FY25

India : growth is strong but income and employment levels remain low

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Founder & Head of Research, Fortress Hill Advisors

Alex Ng

Founder & Head of Research

Fortress Hill Advisors

Founded in Hong Kong in 2019, Fortress Hill Advisor seeks to provide premium economic and financial researches.

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Macroeconomics

<ul>
<li>India’s GDP growth slowed to 6.7% yr/yr in Q1 FY25, falling short of expectations, as reduced public spending during the election period weighed on economic activity.</li>
<li>Strong private consumption and investment provided some support, but a decline in manufacturing growth and weak external trade dampened overall momentum.</li>
<li>Looking ahead, easing inflation, improved farm output, and a rebound in government spending are expected to drive growth in the coming quarters.</li>
</ul>


India’s GDP growth slowed to 6.7% yr/yr in Q1 FY25, falling short of expectations, as reduced public spending during the election period weighed on economic activity.
Strong private consumption and investment provided some support, but a decline in manufacturing growth and weak external trade dampened overall momentum.
Looking ahead, easing inflation, improved farm output, and a rebound in government spending are expected to drive growth in the coming quarters.


India GDP Review: A Bearish Start to FY25