India’s real Gross Domestic Product (GDP) growth for second quarter (July to September) would be 7.5% or more due to the consumption boost following Goods & Services Tax (GST) rate cut said the research department of State Bank of India (SBI) on Tuesday (November 18, 2025).

The Reserve Bank of India (RBI) had projected Q2 GDP growth rate at 7%.

“Growth is being supported by a pick up in investment activities, recovery in rural consumption, and buoyancy in services and manufacturing, underpinned by structural reforms like GST rationalization that also helped unleash a festive spirit that decisively showcased triumph of hope over hype,” said SBI Research in a report.

“In continuum of the good numbers from festive led sales, percentage of leading indicators in consumption and demand ac

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