Stunning Numbers! India’s Q2 FY26 GDP Surges To 8.2%, Smashes Estimates; Strong GVA Growth

India posted a stellar macro showing in Q2 FY26, with GDP rising 8.2% vs 7.8% QoQ, smashing estimates, while GVA came in strong at 8.1% versus 5.8% a year ago. Manufacturing surged 9.1% against 2.2% last year, and services expanded 9.2% versus 7.2%. Private consumption grew 7.9%, and gross fixed capital formation rose 7.3%, signalling resilient demand, though government consumption contracted 2.7%. Agriculture grew 3.5% and mining remained flat. For April–September, GDP increased 8.0% and nominal GDP 8.8%. The fiscal deficit touched 52.6% of the FY26 target by October, underscoring strong economic momentum. Watch Siddharth Zarabi, Group Editor, Business Today, break down these blockbuster GDP numbers in conversation with Radhika Rao, ED & Senior Economist, DBS Bank, Singapore; Siddhartha Sanyal, Chief Economist, Bandhan Bank; and Rumki Majumdar, Economist, Deloitte