India's GDP to grow 7.6 per cent in 2026-27, says Chief Economic Adviser
He added that India is set to cross the USD 4 trillion GDP mark in FY26, indicating that the broader fiscal activity continues to sustain the country’s growth rate
Chief Economic Adviser V Anantha Nageswaran said on Friday that India is set to cross the USD 4 trillion GDP mark in 2026-27, indicating that the broader fiscal activity continues to sustain the country’s economic robust growth rate.
The Ministry of Statistics and Programme Implementation (MoSPI) has released New Series of Annual and Quarterly National Accounts Estimates with base year 2022-23, replacing the previous series with base year of 2011-12.
Speaking at the media briefing, Nageswaran highlighted that the economic growth forecast for the upcoming fiscal year has been raised by 20 basis points to 7-7.4 per cent in light of the newly released GDP figure.
He said vital components show that India can continue to expand at a rate of about 7.6 per cent on its current course. He pointed out that per capita real income growth has averaged roughly 6.8 per cent in previous years, while per capita nominal GDP growth may reach 9 per cent.
Nageswaran noted that investment and consumption will continue to be important economic engines in FY27. “Particularly among the G20 nations, the growth rate since Covid has likely been among the best, if not the best, in the world,” he said.
However, a number of other factors such as the exchange rate will also affect whether or not a specific relative position is attained, which did not work out well for India in 2025. That will inevitably have an effect, he added.
He further said that the private sector investment in machinery and equipment has increased in 2024-2025, adding that the capex-to-GDP ratio and the other metrics would predominantly not change.
Furthermore, Nageswaran added that India’s exports to the US and EU would result in improved export growth in 2026-2027.
