Page 28 - Hitachi IR 2025

EXTERNAL OPERATING ENVIRONMENT
External operating
environment
India’s rapid
economic growth
is having a positive
impact on the energy
sector. As a leading
entity in the power
industry, we are
well positioned to
capitalize on this and
drive further success.
India’s growing economy
Currently among the
top 5 largest
economies in the world*
Projected to become
` 5 trillion
by 2030
Source: Niti Aayog's vision
for Viksit Bharat
6.50%
GDP growth in
FY 2024-25*
India displayed steady economic
growth in the financial year
ended March 2025 amidst
global uncertainties. As per
the first advance estimates,
India’s real GDP is estimated to
grow by 6.50% in FY 2024-25
(close to the decadal average)
vis-à-vis 9.2% in FY 2023-24,
supported by agriculture and
services. Private consumption
remained stable, reflecting steady
domestic demand. Fiscal discipline
and strong external balance
contributed to macro-economic
stability and provided a solid
foundation for sustained growth
amid external uncertainties.
Consumption is estimated to
grow, driven by a rebound in
rural demand. On the supply
side, agriculture and industrial
sectors are also estimated to grow.
Industrial expansion is expected
to grow by 6.20%, supported by
strong growth rate in construction
activities and electricity, gas,
water supply and other utility
services. Further, driven by healthy
activity in financial, real estate,
professional services, public
administration, defense and other
services, growth in services is
expected to remain robust at
7.20%. Notwithstanding various
challenges, India continues to
register the fastest growth in
*  https://www.pib.gov.in/PressNoteDetails.aspx?NoteId=154660#:~:text=India%20became%20the%204th%20
largest,crore%20(2024%E2%80%9325).
26 Hitachi Energy India Limited