Is India’s economy as big as it seems? Global media reads the fine print of GDP revamp

Agriculture, which accounts for 18 percent of the GDP, looks larger, primarily due to more detailed data on fisheries and dairy. Finance and business services also recorded slightly higher output, while commerce, hotels and transport produced 26 percent less. As a result, the service sector appears 8 percent smaller under the new methodology and now makes up 41 percent of the economy. Manufacturing, which accounts for 15 percent, has also shrunk slightly, the report says. But the report adds that “India is growing even faster than previously believed”. GDP expanded by 7.1 percent in FY 2024-25, revised up from an…