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India’s GDP Expands 6.2% in Q3 FY25; FY25 Growth Outlook Adjusted to 6.5%

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According to data released by the Ministry of Statistics and Programme Implementation (MoSPI) on Friday, India’s real GDP is expected to grow by 6.2% in the third quarter (Q3) of FY 2024-25. This represents an increase from the 5.4% growth recorded in the previous quarter.

The construction sector showed the most significant growth at 8.6%, while the financial, real estate, and professional services sectors followed with a 7.2% increase. Additionally, industries related to trade, hotels, transport, communication, and broadcasting registered a growth of 6.4%. Private final consumption expenditure also saw a notable rise of 7.6%, indicating a resurgence in consumer spending.

Consequently, the government has adjusted its full-year real GDP growth forecast for FY25 to 6.5%, up from the previous estimate of 6.4%. For the entire fiscal year 2024-25, the Indian economy is anticipated to grow at 6.5% in real GDP terms, a revision from earlier projections. Nominal GDP is expected to rise by 9.9%, indicating ongoing economic growth.

Sujan Hajra, Chief Economist & Executive Director at Anand Rathi Group, noted that the lower growth figures were partially influenced by an unfavorable base effect, as the GDP numbers for the same quarter last year were revised upward from 8.6% to 9.5%. He added, “Despite robust private consumption, the growth in investment has further diminished compared to our expectations. The decrease in GDP can also be attributed to discrepancies that accounted for negative 1.05 lakh crore.”

It’s worth mentioning that GDP growth was at 8.6% in Q3FY24, tapering off to 7.6% in Q4FY24, and subsequently moderating to 6.7% in Q1FY25, followed by a surprising drop to 5.4% in Q2FY25, which caught many analysts off guard.

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The Reserve Bank of India (RBI) has estimated an annual growth rate of 6.6% for the current fiscal year, ending in March 2025. Additionally, the RBI has projected GDP growth for FY26 at 6.7%, with quarterly estimates of 6.7% for Q1FY26, 7% for Q2FY26, and 6.5% for both Q3FY26 and Q4FY26.

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RBI Ends Special Dollar-Rupee Swap Window Early Amid Strong Demand

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Mumbai: The Reserve Bank of India (RBI) has decided to close its special forex swap facility for fresh FCNR deposits early.

The facility will now close on August 31, the RBI said on Friday.

The central bank said the decision was taken after receiving an encouraging response. The facility has attracted $52.3 billion through fresh foreign currency deposits.

Banks can continue to undertake swaps with the RBI against FCNR deposits raised under the facility until September 11.

Meanwhile, the schemes for External Commercial Borrowings and Overseas Foreign Currency Borrowings will remain open until December 31, 2026.

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The RBI launched the special US dollar-rupee forex swap facility on June 8. It allowed banks to raise fresh three-to-five-year FCNR deposits.

Banks could then swap these deposits with the RBI at a concessional rate. The facility effectively covered the entire hedging cost for banks.

The strong response to the scheme led the RBI to bring the facility to an early close.

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Leksa Lighting Technologies Named among India’s Top 100 MSMEs

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Moodbidri: A dream that began in the rural area of Niddodi in Moodbidri has now gained national recognition. Leksa Lighting Technologies Pvt. Ltd., founded by Ronald Sylvan D’Souza, has been recognised as one of India’s Top 100 MSME companies.

The prestigious national recognition was presented by the MSME Udyog Foundation at a ceremony held in New Delhi on August 8, 2026.

Ronald Sylvan D’Souza started his entrepreneurial journey from a humble background. Through hard work, discipline and continuous efforts, he built Leksa Lighting Technologies into a recognised lighting technology company.

The company has focused on quality, technological innovation and indigenous manufacturing. Research and development have also played an important role in its growth.

Leksa Lighting has adopted Japanese work practices to improve its manufacturing and operational standards. The company has also worked towards developing quality lighting solutions in India.

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What began as a dream in rural Karnataka has now reached different parts of the country. The company is also making its presence felt in international markets.

Speaking about the recognition, Ronald Sylvan D’Souza said the award was not an individual achievement. He credited the entire Leksa team, customers, business partners, family members and everyone who supported the company.

He said he was proud and happy to see a dream that began in Niddodi and Moodbidri receive recognition at the national level.

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The achievement highlights the potential of rural entrepreneurs. It also shows that determination, discipline and consistent hard work can help a business from a rural area achieve success on a national platform.

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Leksa Lighting Technologies’ journey stands as an example of how a local dream can grow into a nationally recognised enterprise.

 

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Vehicle Prices to Increase from August 1

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New Delhi: Buying a new vehicle is set to become more expensive from August 1, adding to the financial burden on consumers. Several automobile manufacturers have announced a price hike due to rising production costs.

The increase is mainly driven by higher prices of raw materials and components. The cost of steel, aluminium, rubber, plastic, electronic chips, batteries, and spare parts has gone up in recent months. Global market changes caused by ongoing conflicts and inflation have also increased manufacturing expenses.

As a result, vehicle companies have decided to raise the prices of new models. Customers planning to purchase a new vehicle are likely to pay more from August 1.

The price hike is also expected to affect the travel and transport industry. Travel agencies and tour operators say buying new cars, SUVs, and other passenger vehicles will become more expensive.

Operators have already been facing higher expenses due to increased fuel prices and toll charges. With the additional cost of new vehicles, many travel agencies are preparing to revise their rental charges.

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The Karnataka Travels Association has indicated that travel fares may be increased to manage the rising operating costs. Passengers may have to pay more for each trip if the revised rates are implemented.

Meanwhile, several automobile manufacturers have already published details of the upcoming price increase on their official websites. Consumers planning to buy a new vehicle may consider making their purchase before the revised prices come into effect on August 1.

 

 

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