India Q1 Real GDP Growth Beats Expectation

India's real GDP growth reached 7.8% yoy in Q1 CY26, fueled by strong investment. Consequently, Goldman Sachs has revised its full-year CY26 growth forecast upward to 6.5%.

Key Takeaways

• 1.India's Q1 CY26 real GDP growth at 7.8% yoy exceeded expectations, driven by a 4-year high in investment growth.
• 2.Manufacturing growth contracted sequentially due to production shutdowns, while services sector growth remained strong.
• 3.Goldman Sachs raised its CY26 real GDP growth forecast for India by 30bp to 6.5% yoy.

Table of Contents

• Key numbers
• Main points
• Disclosure Appendix
• Reg AC
• Disclosures