Growth, biomass, carbon storage and nutrient (N, P and K) variations in 1 to 6-year-old chronosequence plantations of Gmelina arborea were studied in three degraded red lateritic sites in central India. Growth parameters (dbh, total height and number of branches) varied significantly due to difference in age and site quality, but tree density showed non-significant variation. Stand biomass ranged from 3.94 (1-year-old) to 53.67 Mgha(-1) (6-year-old) and stand carbon in 6-year-old plantations ranged from 24.12 to 31.12 Mgha(-1) at different sites. Among the tree components, the stem wood accounted for maximum C (56.25% at site 1) followed by branches (19.8% at site 3), roots (18.51% at site 2) and foliage (7.01% at site 3). Mean annual C accretion at 6 years age of plantation was highest in site 3 and it was 0.35, 2.66, 0.965 and 0.87 Mgha(-1) for leaf, stem, branches and roots, respectively. Quantity of nutrients increased with age. Total nitrogen accumulation in 6-year-old stands at the three sites ranged from 212.9 to 279.5 kgha(-1) with a mean annual storage of 238.43 kgha(-1) and total K ranged from 170.8 to 220.5 kgha(-1) with a mean annual storage of 189.93 kgha(-1). Phosphorous accumulation was lowest with a mean storage of 16.75 kgha(-1). The organic carbon and nutrients in the soils improved significantly after 6 years of G. arborea planting. Soil organic carbon increased from 8.46 to 14.02 Mgha(-1) within 6 years. At soil depths 0-20 cm, 21-40 cm and 41-60 cm, available N enhanced by 14.85%, 11.98% and 11.25%, K by 10%, 9.13% and 10.63%, whereas phosphorous declined by 26%, 23% and 20%, respectively. At 6 years, G. arborea stands sequestered 31.37 Mgha(-1) carbon. The nutrient management strategies in relation to carbon accretion in G. arborea stands on degraded lateritic sites are discussed.