India’s Finance Ministry estimates Q2 growth at 7.35%

India’s Finance Ministry estimated that the economy grew 7.35% in the July-September quarter, below the 7.8% recorded in April-June, according to its October Monthly Economic Review. The figure is a model-based nowcast, not the official quarterly GDP result. The Department of Economic Affairs model drew on indicators including industrial production, energy consumption, port traffic, Goods and Services Tax collections and automobile sales. The ministry said those measures recorded stronger growth in the second quarter than in the preceding quarter, supporting its assessment of continued economic activity. The estimate rose from around 7.3% in the ministry’s September review. It follows a 7.8% expansion in Q1 FY27 and puts the ministry’s Q2 assessment below the first-quarter pace. Official GDP data for the July-September period are scheduled to be released by the Ministry of Statistics and Programme Implementation on November 30. The review said domestic demand, investment activity and structural reforms are expected to support growth through the rest of FY27. It also cited healthy credit growth and recent trade agreements as potential support for consumption, investment and...