India's GDP Growth Revised to 7.8% in Q3 Amid Methodological Changes

India's government announced on Friday that the country's GDP growth for the third quarter was 7.8% year-on-year, compared to 8.4% in the previous quarter. According to Jin10, the government also released revised national output data series. Radhika Rao, a senior economist at DBS Bank, noted that the recalculated growth data appears slightly stronger than previous trends due to methodological changes. These adjustments are expected to cover updated production structures, broader business coverage, new ratios, and improved government datasets, including those reflecting informal sector activities. The services sector showed robust growth, while manufacturing achieved double-digit expansion. In addition to indirect tax reforms and festive demand, the fourth quarter benefited from improved conditions in the rural agricultural sector. The recalculated data aligns closely with the forecast of a 7.7% year-on-year growth for the fiscal year 2026.