Economists cheer as GDP growth beats forecasts

New Delhi: Economists on Friday hailed the 8.2 per cent gross domestic product (GDP) growth for the second quarter (Q2 FY26), a six-quarter high, as it surpassed estimates for the second consecutive time amid global headwinds and tariff concerns.

“For the second consecutive quarter, India’s GDP growth significantly surpassed expectations, printing at a six-quarter high of 8.2 per cent in Q2 FY2026, and displaying an acceleration over the 7.8 per cent growth seen in Q1 FY2026, in contrast to the widespread market expectation of some moderation,” said Aditi Nayar, Chief Economist, ICRA.

The upside surprise in the Q2 GDP growth print was driven by services, even as the agriculture and industrial sectors largely reported prints along expected lines. The 9.7 per cent surge in the public administration, defence and other services segment in Q2 FY26 was quite surprising, said analysts.

Madhavi Arora, Chief Economist, Emkay Global Financial Services, emphasised that the resilient data was led by monetary and regulatory easing and a limited impact of trade restrictions imposed by the US administration on Indian exports.