Prime Minister Narendra Modi on Friday hailed India’s stronger-than-expected economic growth after official data showed the economy expanded 7.7% in FY26 and 7.8% in the January-March quarter, outperforming market estimates.Reacting to the data, Modi said in a post on X, “India’s growth momentum remains strong! GDP growth rate of 7.7% in FY 2025-26 and 7.8% in Q4 of FY 2025-26 reflect the inherent strength of our economy, the success of reforms and the hard work of 140 crore Indians.” He added that the government would leave “no stone unturned” to further improve “Ease of Living,” “Ease of Doing Business” and create more opportunities for the country’s youth.
According to the Provisional Estimates released by the Ministry of Statistics and Programme Implementation (MoSPI), India’s economy grew 7.7% in FY26, accelerating from 7.1% in the previous financial year. GDP growth in the March quarter came in at 7.8%, up from 7% a year earlier and above the CNBC-TV18 poll estimate of 7.3%.
The robust performance highlights the resilience of the Indian economy despite global headwinds, including tariff-related uncertainties, slowing international trade and geopolitical tensions during the year.Gross Value Added (GVA), which measures economic activity across sectors, rose 7.9% in FY26 compared with 7.3% a year ago. GVA growth in the fourth quarter also stood at 7.9%, up from 7.1% in the corresponding period last year.Manufacturing, services drive growthManufacturing remained a key growth engine, expanding 10.7% in FY26 compared with 9.3% in the previous year.The services sector also posted strong gains. Trade, hotels, transport and communication services grew 11%, sharply higher than 6.6% a year ago, while financial, real estate and professional services expanded 10.4%, compared with 10% in FY25.PM Modi highlights India’s resilience amid global uncertaintySpeaking at an event in Surat, Gujarat, Modi said the world was navigating an era of multiple crises, ranging from the COVID-19 pandemic to wars and energy disruptions.”The world is going through a phase of unprecedented challenges… First, there was the massive crisis caused by COVID-19; then wars broke out in various places, and a severe energy crisis has thrown the entire world into disarray,” he said.The Prime Minister added that despite volatile global energy markets and supply chain disruptions, “through the collective efforts of 140 crore Indians, the country is facing every such crisis with strength.”Emphasising India’s growth potential, Modi said the country was driven by optimism and aspirations. “Its citizens are filled with dreams and resolve, and the people are committed to transforming that resolve into reality. When the collective will of the nation is so determined, it can achieve any goal and therein lies India’s true strength,” he said.
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