India's Economic Growth Slows to 6.2% Amid Manufacturing and Mining Slump

India's economic growth dropped to 6.2% in the third quarter of 2024-25, attributed largely to poor manufacturing and mining performance. The National Statistical Office, revising previous estimates, now projects a 6.5% growth for the fiscal year 2024-25, with past growth rates adjusted upwards.

India's economic growth has decelerated to 6.2% in the third quarter of 2024-25, as poor performances within the manufacturing and mining sectors have taken their toll. This figure marks a notable decline from the 9.5% growth witnessed during the same period last year.

The Indian economy previously expanded by 5.6% in the third quarter of this fiscal year, according to data unveiled by the National Statistical Office (NSO) on Friday. The organization's second advance estimate of national accounts anticipates growth of 6.5% for the fiscal year of 2024-25.

The NSO also revised the GDP growth figures for 2023-24 upwards to 9.2% from a prior estimation of 8.2%, revealing slightly stronger past economic performance.