New Delhi : Prime Minister Narendra Modi on Tuesday hailed India's 7.8 per cent real GDP growth in the first quarter of FY27, calling it a reflection of the "collective strength" of the people, while taking a swipe at the Opposition, accusing them of "spreading despair" in the country.
In a video message posted on X, PM Modi congratulated the people of India for their hard work and said the country's economic growth came despite global challenges, including wars, crises and disrupted supply chains. He also took a dig at the opposition for echoing falsehoods and spreading despair.
"A growth rate of 7.8%--the nation is filled with joy. I congratulate the people of this country for their resolve and their industrious spirit; this reflects our collective strength. The world is mired in conflict; news of war is coming from all directions, and the globe is beset by crises. Supply chains are severely disrupted. Since the COVID era of 2020, stability has been elusive everywhere. Yet, India continues to progress rapidly. Meanwhile, within the country, there are those mired in the abyss of pessimism, echoing falsehoods and spreading despair. Rising above all this and cutting through these obstacles, the nation has achieved a growth rate of 7.8%. We must maintain this momentum. We must keep moving forward, and for that, becoming Atmanirbhar Bharat is essential," he said.
Calling for greater emphasis on domestic products and local consumption, he said, "The mantra of Swadeshi, Vocal for Local: foreign trips, if you go for sightseeing, should not be done. If you do weddings abroad, it should not be done. One should live the mantra of 'Wed in India'. And if it's not necessary, then gold should not be bought either."
"The more we emphasize 'Swadeshi' and self-reliance, the more confident I am that by the time we mark 100 years of independence, we will hand over a 'Viksit Bharat' to our youth. Through our hard work today, we will surely realize the dreams of our younger generation. Let us spare no effort in our endeavors. Our policies are sound, and our intentions are pure. The combined strength of 1.4 billion Indians is uniting to take the nation to new heights. Let us celebrate, make a firm resolve, and march forward together to turn that resolve into reality," PM Modi added.
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. Nominal GDP, 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, registering a growth of 10.3 per cent.
Real gross value added (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 GDP figures and credited the people of India for the strong performance.
"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.