India’s economy grew by 7.8 percent in the first quarter of the 2026-27 fiscal year, reflecting a stronger-than-expected performance despite ongoing global economic challenges. The growth figure, covering April to June 2026, was announced by Prime Minister Narendra Modi and marked an improvement from the 6.9 percent expansion recorded in the same quarter of the previous year. However, it fell short of the 8.6 percent growth achieved in the January to March quarter.
In a video address, Modi credited the growth to the “collective strength” and dedication of the Indian population, emphasizing that the country has continued to advance despite supply chain disruptions, economic volatility, and global conflicts that have persisted since the COVID-19 pandemic. Highlighting the importance of domestic resilience, Modi reiterated his government’s push for self-reliance, urging citizens to support Indian-made products and services under the ‘Atmanirbhar’ initiative.
The Prime Minister reinforced the value of the ‘Swadeshi’ movement, which promotes the consumption of locally produced goods as a means to boost the national economy. He encouraged continued efforts to prioritize domestic manufacturing and consumption to help India build a stronger economic foundation ahead of its centenary of independence.
As part of this broader strategy, Modi asked Indians to reduce foreign travel for leisure and consider celebrating significant events, such as weddings, within the country to retain spending domestically. He also cautioned against unnecessary purchases of gold, pointing out that India imports a significant portion of its gold, which affects the country’s external finances.
The 7.8 percent GDP growth was supported by widespread activity across sectors, with domestic consumption, investment, and key services contributing significantly to the expansion. This performance underscores the resilience of the Indian economy amid a turbulent global environment and provides momentum for the government’s continued focus on economic autonomy and development.
Modi’s remarks follow earlier appeals this year for resource conservation and enhanced support for local industries, reflecting efforts to strengthen India’s economic stability in a period marked by geopolitical tensions and market uncertainties. The recent strong growth figures offer a positive backdrop for these initiatives as the country navigates ongoing global economic headwinds.