Prime Minister Narendra Modi on Monday welcomed India’s stronger-than-expected economic performance in the first quarter of FY 2026-27, taking a swipe at those who had questioned the country’s growth prospects.
According to the latest government data, India’s economy expanded by 7.8% between April and June 2026, surpassing expectations and beating the Reserve Bank of India’s 7% growth forecast for the period.
Reacting to the figures on X, PM Modi described the performance as an exceptional achievement, particularly at a time when the global economy continues to face serious challenges.
PM Modi Says India Has Defied Economic Pessimism
The Prime Minister called the quarterly growth numbers an “exemplary” achievement and described India’s economic performance as a “herculean feat”.
Highlighting the difficult international environment, Modi pointed to rising and volatile oil prices, disruptions in global supply chains and widespread geopolitical uncertainty.
Taking aim at critics who had expressed doubts about India’s economic momentum, the Prime Minister said:
“Doomsayers were doomed and India bloomed…yet again!”
His comments came soon after the Ministry of Statistics and Programme Implementation (MoSPI) released the latest GDP figures for the opening quarter of the 2026-27 financial year.
India’s GDP Beats RBI Growth Projection
Official data showed that India’s real Gross Domestic Product grew by 7.8% in Q1 FY27, exceeding the 7% growth rate projected by the Reserve Bank of India.
Although the latest figure was lower than the 8.6% growth recorded in the preceding quarter, it marked a clear improvement over the 6.9% expansion seen during the April-June quarter of FY 2025-26.
The numbers once again underline India’s position among the fastest-growing major economies in the world.
Growth Remains Strong Despite Global Challenges
India’s economic performance has remained steady even as global markets deal with geopolitical tensions and economic uncertainty.
The conflict involving Iran and its effect on international energy markets has increased concerns about oil prices and inflation across several economies.
Despite these external pressures, India’s domestic economic activity appears to have remained resilient.
The stronger-than-expected first-quarter growth indicates that the economy has continued to withstand challenges linked to higher energy costs, inflationary concerns and softer demand in global markets.
RBI Maintains 6.7% Growth Outlook for FY27
The Reserve Bank of India has projected that the Indian economy will expand by 6.7% during the entire 2026-27 financial year.
The robust growth recorded in the first quarter has given India a strong beginning to the new fiscal year, although global developments will continue to influence the economic outlook in the coming months.
India’s Real GDP Reaches Rs 81.36 Lakh Crore
According to MoSPI estimates, India’s real GDP at constant prices reached Rs 81.36 lakh crore in Q1 FY27.
During the corresponding April-June period of the previous financial year, real GDP stood at Rs 75.46 lakh crore.
Meanwhile, India’s nominal GDP at current prices was estimated at Rs 88.27 lakh crore, compared with approximately Rs 80 lakh crore in Q1 FY26.
This translates into a 10.3% growth rate in nominal GDP.
India’s Economic Resilience Remains in Spotlight
The latest GDP data highlights the continued strength of India’s economy despite an uncertain global backdrop.
With geopolitical tensions, energy market volatility, supply chain disruptions and concerns over international demand continuing to affect economies worldwide, India has managed to maintain a strong pace of expansion.
PM Modi’s reaction to the numbers reflects the government’s confidence in the country’s economic fundamentals and growth potential.
As India moves further into FY 2026-27, attention will now turn to whether the country can sustain this momentum while navigating inflation risks, global uncertainty and changing conditions in international markets.