India’s Q3 FY26 GDP: Big Takeaways & What It Signals For The Economy | New Base Year Impact

India’s Q3 FY26 GDP grew 7.8% under the new 2022-23 base year series, moderating from 8.4% in the previous quarter. The growth was supported by robust manufacturing output, which expanded over 13%, and steady private consumption, reflecting resilient household demand. The secondary sector, including manufacturing, construction, and utilities, remained a key driver, though construction slowed to 6.6%. Services activity, especially trade, transport, communication, and hospitality, also showed strong expansion, underlining continued urban demand. Despite global uncertainties and uneven sectoral performance, India’s economy maintained momentum, with industrial activity and consumption anchoring growth, highlighting the resilience of domestic demand in Q3 FY26. Watch Siddharth Zarabi, Group Editor, Business Today in Conversation with Sunil Sinha, Director & Principal Economist, India Ratings and Rumki Majumdar, Economist, Deloitte India on GDP growth numbers.