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India’s economic growth continues to remain strong in the July-September quarter, with rating agency ICRA projecting GDP expansion at a robust 7% year-on-year. India’s gross value added (GVA) is also estimated to grow 7.1%, even as the industry is set for its strongest showing in five quarters. The official GDP data for Q2 FY26 is expected to be released on November 28.

India’s GDP had grown at 7.8% in the previous quarter (Q1 FY26), while GVA expanded at 7.6%.

Industrial activity, however, is poised for a noticeable rebound. ICRA pegs industrial GVA growth at 7.8%, supported by stronger manufacturing output, higher exports and pre-festive inventory stocking. Manufacturing growth, measured through the Index of Industrial Production (IIP), rose to a seven-quarter

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