Share of services sector back to pre-pandemic levels in India

The Gross Value Added (GVA) witnessed a growth, second time in a row, by 3.7% y/y in Q1 2021, or Q4 FY2021. Manufacturing and construction were the main contributors to GVA under industry, while the share of agriculture declined in Q1 2021, in comparison with Q4 2020.

Under services, the category trade, hotels, transport, communication, and services (related to broadcasting) increased its share in the overall GVA, back to pre-pandemic levels.

While GVA pertaining to industry witnessed the second consecutive growth of 7.9% y/y, after growing at 2.9% y/y in the previous quarter, the services sector registered an increase for the first time since March 2020, by 1.5% y/y.

Source: CEIC, Central Statistics Office

Further data and analysis on India’s economy are available on the CEIC India Economy in a Snapshot – Q2 2021 report