Industry downturn leads India’s Q1 FY25 GDP growth to 6.7%: Union Bank

India’s GDP growth rate would have moderated to around 6.7 per cent in Q1 FY25 and the gross value added (GVA) growth is likely to have settled at around 5.8 per cent compared to Q4 FY24’s 6.3 per cent, the Union Bank said.
The industrial sector was the key driver of this slowdown, led by manufacturing, whose GVA growth fell from 8.9 per cent to 4.5 per cent.