“India’s exemplary GDP growth of 7.8 per cent during Q1 of FY 2026-27 is a herculean feat.The growth came amid oil price shocks and supply chain issues, at a time when the global economy continues to face uncertainty,” said Prime Minister Narendra Modi
New Delhi: Prime Minister Narendra Modi on Monday described India’s 7.8 per cent GDP growth in the first quarter of financial year 2026-27 as a “herculean feat”, saying the country’s growth came despite oil price shocks, supply chain issues and global uncertainties.
The Ministry of Statistics and Programme Implementation released the quarterly estimates of GDP for the first quarter from April to June of the current financial year on Monday.
India’s Real GDP has observed a growth rate of 7.8% during the first quarter of the financial year 2026-27 compared to 6.9% during the same period of the previous financial year.
The nominal GDP has also registered 10.3% growth during the first quarter of the current financial year.
Reacting to the latest GDP data, PM Modi said the collective strength of the people helped India deliver strong economic growth despite the challenges facing the global economy.
“India’s exemplary GDP growth of 7.8 per cent during Q1 of FY 2026-27 is a herculean feat,” Modi said in a social media post.
He added that the growth came amid oil price shocks and supply chain issues, at a time when the global economy continues to face uncertainty.
“The collective strength of our people ensured India delivered such growth despite oil price shocks and supply chain issues in the midst of global uncertainties,” the Prime Minister said.
“The world is at war, and we are hearing about war-like situations everywhere. The world is surrounded by crises. Supply chains have been disrupted. After 2020, we have not seen any kind of stability,” he said.
Despite these challenges, PM Modi said India was continuing to grow rapidly on the path of development.PM Modi further said, “Overcoming all these challenges, the country has achieved a growth rate of 7.8 per cent. We will have to maintain this pace and move forward.”
In a video message on Instagram, the prime minister said that if people continue to stress on Swadeshi and self-reliance, the country’s youth will be presented with a developed India in the 100th year of Independence.
He also asked people not to go for foreign holidays, host weddings abroad, or buy gold unless necessary.
According to data released by the Ministry of Statistics and Programme Implementation (MoSPI), India’s real GDP grew 7.8 per cent in Q1 FY27, covering the April-June period.
Real GDP was estimated at Rs 81.36 lakh crore in Q1 FY27, compared with Rs 75.46 lakh crore in the same quarter of FY26.
The latest growth figure was also higher than the 7 per cent Q1 FY27 growth estimate earlier projected by the Reserve Bank of India (RBI).
The RBI had also revised its real GDP growth forecast for the full financial year FY27 to 6.7 per cent from 6.6 per cent.
The latest data showed that nominal GDP, which is measured at current prices, was estimated at Rs 88.27 lakh crore in Q1 FY27, compared with Rs 80.00 lakh crore in Q1 FY26. It registered a growth of 10.3 per cent.
Real gross value added (GVA) also recorded strong growth during the quarter. Real GVA was estimated at Rs 73.82 lakh crore in Q1 FY27, compared with Rs 68.21 lakh crore in Q1 FY26, registering a growth of 8.2 per cent.
Finance Minister Nirmala Sitharaman also welcomed the latest GDP figures, saying the strong performance reflected the hard work of the people of India. DownloadInteractive Maps
She said the reforms undertaken by the NDA government, along with its management of the economy, were bearing results.
“Estimated growth of real GDP in Q1 of FY 2026-27 is 7.8 per cent. Nominal GDP in Q1 of FY 2026-27 is estimated to have grown by 10.3 per cent, while Real GVA has recorded growth of 8.2 per cent,” Sitharaman said in a social media post.
She added, “The credit for this strong performance goes to the people of India and their hard work. Reforms undertaken by the NDA Government, together with an agile management of the economy, are bearing results. The NDA Government, led by PM Shri @narendramodi, remains committed to further expanding economic opportunities for all our citizens”.
The Q1 GDP estimates are subject to revisions. MoSPI said improved data coverage and revisions in input data by source agencies would have a bearing on subsequent revisions of the estimates.
The next release of quarterly GDP estimates, covering the July-September quarter (Q2) of FY27, is scheduled for November 30, 2026.
Ranjeet Mehta, CEO and Secretary General, PHD Chamber of Commerce and Industry (PHDCCI), said the Q1 growth was a strong reflection of the resilience of the Indian economy and described the broad-based expansion as encouraging.
“India’s GDP growth in the first quarter of 2026-27 is a strong reflection of the resilience of the Indian economy. The growth has been broad-based, including 11.9 per cent gross capital formation. It’s really, really very encouraging,” Mehta said.
The stronger-than-expected growth also surprised economists and analysts, with CareEdge Ratings pointing to a pickup in investment and accelerated government capital expenditure as key drivers.
Pankaj Sharma, Business Head – North (Corporate and Infrastructure), CareEdge Ratings, said the 7.8 per cent growth came as a surprise, with investment picking up significantly.
He said the government had front-loaded capital expenditure during the first quarter.
CareEdge Ratings Chief Economist Rajani Sinha said the GDP figure was a “big positive surprise”, noting that the ratings agency had expected growth of around 7.3 per cent in the first quarter.
According to Sinha, a combination of measures and favourable economic conditions helped strengthen consumption growth. Income-tax rationalisation, GST rationalisation and relatively low inflation over the past year supported household consumption, while a strong focus on capital expenditure by the Centre and states helped drive investment growth.
Agencies