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FICCI Projects India's GDP Growth at 6.4% for FY25, Down from 7.0% in FY24.

Science and Technology | Dated: 18 Jan 2025

In January 2025, the Federation of Indian Chambers of Commerce and Industry (FICCI) released its Economic Outlook Survey. The survey projects India's Gross Domestic Product (GDP) growth for 2024-25 at 6.4%, marking a decline from the 7.0% estimated in September 2024 and the 8.2% growth achieved in 2023-24

🎯 Key Highlights:

  • - Conducted in December 2024, the survey attributes the economic moderation to global uncertainties and domestic challenges.
  • - Consumer Price Index (CPI)-based inflation is projected at 4.8% for 2024-25, consistent with the Reserve Bank of India's (RBI) forecast in December 2024, with expectations of a decline in food inflation.
  • - Consumer spending, agriculture, and rural consumption are expected to recover, with agriculture growing at 3.6%, and industrial and services sectors rising by 6.3% and 7.3% respectively.

💡 Other Important Facts:

  • (i) Growth will be supported by government-led investments in infrastructure, housing, logistics, and significant growth in manufacturing, electronics, and pharmaceuticals sectors.
  • (ii) Growth may be hindered by geopolitical uncertainties, trade disruptions, climate-induced challenges, and rising public debt levels.
  • (iii) Exports are projected at USD 450.5 billion, and imports at USD 729.6 billion for 2024-25.

📚 Test Your Knowledge:

What is the projected GDP growth for India in FY25 as per FICCI's Economic Outlook Survey?

Correct Answer: 6.4

🚀 Quick Recap:

About Federation of Indian Chambers of Commerce and Industry_(FICCI)

  • President : Harsha Vardhan Agarwal
  • Headquarters : New Delhi