India grew 7.8% in Q1 despite global economic challenges: Prime Minister Mr. Narendra Modi

Prime Minister Mr. Narendra Modi highlighted India’s strong economic performance, stating that the economy grew 7.8% in Q1 FY26, surpassing all expectations despite global challenges. Addressing the Semicon India 2025 conference, he said the growth momentum is visible across sectors, including manufacturing, services, agriculture, and construction, reflecting the resilience and vibrancy of the Indian economy. He added that India’s rapid progress is infusing new energy across industries and society and is propelling the country swiftly towards becoming the third-largest economy in the world.
He emphasised that the government will soon usher in a new phase of next-generation reforms to strengthen long-term growth. While he did not share specific details, expectations are high regarding potential reforms under the Goods and Services Tax (GST) framework, with discussions on rate adjustments for a wide range of products. India continues to remain the fastest-growing major economy globally, outpacing its peers, and its growth trajectory demonstrates the country’s expanding role as a key driver of global economic momentum.

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