HSBC Projects India Q2 Growth at 6.8-7 pc, for FY at 6.3 pc

India's GDP growth is projected at 6.3 per cent in current fiscal (FY26) despite external headwinds, an HSBC report said on Wednesday, adding that with 70 per cent of the indicators growing positively, the Q2 growth (April-June) is trending at 6.8-7 per cent, with the informal sector taking the lead.

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HSBC Global Investment Research has updated its 100 indicators framework, which maps high-frequency indicators to various sectors and gives a thorough and sequential read on growth.

"After an amazing April came a measured May with 67 per cent of the indicators growing positively (compared to 72 per cent in April). Still, from a quarterly perspective, Q2 is doing better than Q1 2025 (70 per cent vs 67 per cent)," the findings showed.

If this trend continues into June (as is looking likely so far, based on the release of 20 per cent of the data we track), "GDP growth could come in at the 6.8-7 per cent ballpark," said the report.