India’s Q2 Growth Pegged at 7.2% as Moody’s Sees Multi‑Year G‑20 Lead

Overview

• India Ratings & Research estimates Q2 FY26 real GDP growth at 7.2% year on year, led by private consumption and a resilient services sector.
• Ind‑Ra expects private consumption to have grown about 8% and investment demand roughly 7.5% in Q2, helped by low inflation and fiscal measures.
• The agency flags nominal GDP growth likely below 8% in Q2, warning this could weigh on tax receipts and complicate fiscal arithmetic.
• Moody’s projects India’s real GDP at 7.0% in 2025 and around 6.5% in 2026–27, keeping India the fastest‑growing G‑20 economy as exporters redirect sales despite high U.S. tariffs.
• CAREEdge also pegs Q2 growth near 7.2% but sees second‑half moderation, and the NSO will release official Q2 figures on November 28.