According to Nirmala Sitharaman, India’s manufacturing activity was “good” from January to March, contributing to the country’s 7.4% quarterly GDP growth and 6.5% fiscal year-over-year GDP growth in 2024–2025.
On Friday, Finance Minister Nirmala Sitharaman stated that the industrial, services, and agricultural sectors are helping India maintain its GDP growth momentum as the fastest-growing country for the fourth consecutive year.
According to her, manufacturing activity in India was “good” from January to March, contributing to a 7.4% GDP growth in the quarter and a 6.5% GDP growth for the entire fiscal year 2024–2025.
“Thanks to the efforts of small, medium, and large industries, India is maintaining its growth and has been the fastest growing economy for the past four years. These industries are ensuring that our manufacturing and service capacities remain intact.” We have also been supported by agriculture both during and after COVID,” Sitharaman stated.
The economy grew by 9.2 percent in FY’24, which is a high base for the 6.5% GDP growth in FY’25. Additionally, the March quarter’s 7.4% growth was based on a high base of 8.4% in FY’24.
During the January-March quarter, there were opinions that industry was not investing enough, that capabilities were not growing, and that its effect on the economy was being questioned, the Minister remarked while speaking at the Lakshmipat Singhania-IIM Lucknow National Leadership Award.
“I’m happy to report that manufacturing activity in India’s sector has been strong in Q4 of 2024–25, with a real GDP increase of 7.4% in Q4 alone. Consequently, the real GDP growth for the entire fiscal year 2024–2025 (April–March) was 6.5%, according to Nirmala Sitharaman.
Manufacturing output increased 4.8% in the fourth quarter of FY’25 compared to 11.3% in the same quarter of FY’24.
In the March quarter, the farm sector grew by 5.4%, while the services sector grew by 7.3%.
According to Nirmala Sitharaman, the government works annually to eliminate regulatory barriers and implement soft-touch regulations that will enable people to conduct business without raising red flags.
She stated that she is receptive to recommendations for lowering regulatory barriers that affect businesses.
“How long will we continue to claim that India is a developing nation? We are at a point in our history where we all need to believe in our nation’s capabilities and that we can undoubtedly achieve that goal.
“While our own people are traveling the world and holding leadership positions in a variety of industries.” We should all stop wondering if India will be able to accomplish its goals and reach its goals. We can, indeed,” she said.
She stated that the country must overcome the scourge of petty corruption if it is to meet its 2047 goal of being a developed nation.
