India's Q1 GDP Grew 20.1% On Low Base, Economy Still Smaller Than Pre-Covid Level: ICICI Securities

Vendors sell fruit and vegetables at a roadside market at Nayasarai in Ranchi, Jharkand, India. (Photographer: Arko Datto/Bloomberg)

India's Q1 GDP Grew 20.1% On Low Base, Economy Still Smaller Than Pre-Covid Level: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

India’s real gross domestic product grew 20.1% YoY in Q1 FY22, moderately below our expectations.

While this is the highest quarterly growth of real GDP in 2011-12 series, the number should be interpreted carefully as it was mainly due to low base.

In Q1 FY21, real GDP had contracted 24.4% to Rs 26.9 trillion due to Covid-19 related national lockdown.

While in Q1 FY22 real GDP increased 20.1% to Rs 32.4 trillion, the economy is still smaller than its pre-Covid-19 level.

In Q1 FY20 and Q1 FY19, real GDP stood at Rs 35.6 trillion and Rs 33.8 trillion respectively.

Click on the attachment to read the full report:

ICICI Securities India GDP Q1FY22.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.