The week in charts: GDP estimate, Nadella’s plan, ₹100 crore homes
Subscribe to enjoy similar stories. The first advance estimates released on Tuesday forecast India's growth at 6.4%, the slowest in four years. However, this number will undergo repeated revisions in subsequent releases.
Meanwhile, Microsoft CEO Satya Nadella has revealed plans to invest in expanding artificial intelligence (AI) capacity in India. The first advance estimates for 2024-25 projected a 6.4% GDP growth for India, the lowest since 2020-21. However, these are early estimates and get revised significantly in subsequent releases.
The revisions between the first and the final estimates occur in both directions. A Mint analysis shows that real GDP growth was revised upwards more often than downwards between 2016-17 and 2023-24, with upward revisions surpassing 100 basis points in two of those eight years. However, the Budget, which will be presented next month, will have to use first advance estimates for its revenue and expenditure projections.
India’s services exports surpassed goods exports, reaching $35.7 billion—about $3 billion more than goods--in November 2024, preliminary data showed. If this holds true after the final data is released, it would be a historic shift in almost three decades. India’s share in global services exports has steadily grown, reaching 4.2% by 2023, while its share in goods exports has remained flat since the 2008 global financial crisis.
A major driver of this growth is the rise of software and business services. $3 billion: That’s the investment Microsoft is planning to make in India to enhance its AI and cloud capabilities, CEO Satya Nadella announced while on his visit to the country. The announcement follows his meeting with Prime Minister Narendra Modi, where they discussed
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