India’s economy is gearing up for a significant upgrade in how it measures growth, with the new GDP series based on 2022-23 set for launch this Friday. Experts predict this will highlight the country’s robust performance, potentially solidifying its global ranking.
A MoSPI-appointed sub-committee has pushed for greater reliance on GST data to refine GDP calculations. This shift is integral to revising the base year from 2011-12, better capturing shifts like the rise in services and digital transactions.
The overhaul includes unorganized sector improvements and fresh data streams such as electric vehicle registrations and natural gas usage. These changes address gaps in older methodologies, offering a clearer picture of India’s economic vigor.
Looking ahead, FY 2025-26 growth is pegged at 7.4%, fueled by domestic consumption. SBI Research sees Q3 FY 2026 hitting 8-8.1%, supported by resilient high-frequency data from late 2025. Union Bank projects 8.3% for the ongoing quarter, defying unfavorable bases.
The Friday data drop will feature updated quarterly GDP under the new base, second advance estimates for the next fiscal, and revisions for prior years. As India navigates global uncertainties, this refined framework underscores its domestic strength and future potential.
Overall, the new series is more than a technical tweak—it’s a testament to India’s adaptive economic strategies, ensuring reliable insights for policymakers and investors alike.