New Delhi, Aug 31: Prime Minister Narendra Modi on Monday described India’s 7.8 per cent real GDP growth in the first quarter of 2026-27 as a “herculean feat”, asserting that the economy maintained strong momentum despite global uncertainties, oil price shocks and supply-chain disruptions.
“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,” Modi said in a post on X.
“Doomsayers were doomed and India bloomed…yet again!” he added.
Government data released on Monday showed that real GDP at constant prices rose to Rs 81.36 lakh crore in Q1 FY27 from Rs 75.46 lakh crore in the corresponding quarter of 2025-26, registering growth of 7.8 per cent.
The growth came despite a challenging external environment marked by geopolitical and economic uncertainties, with disruptions in oil markets and global supply chains continuing to pose risks to economic activity.
Nominal GDP, measured at current prices, was estimated at Rs 88.27 lakh crore in the first quarter of FY27, against Rs 80 lakh crore in Q1 FY26, recording a growth rate of 10.3 per cent, the Ministry of Statistics and Programme Implementation said.
Real gross value added (GVA) also recorded robust growth during the quarter. It was estimated at Rs 73.82 lakh crore, compared with Rs 68.21 lakh crore in Q1 FY26, reflecting an increase of 8.2 per cent.
Nominal GVA stood at Rs 80.53 lakh crore in Q1 FY27, up from Rs 72.24 lakh crore in the year-ago period, registering growth of 11.5 per cent.
The latest estimates have been prepared under the new series of National Accounts Statistics, with 2022-23 as the base year.
The ministry said the quarterly GDP estimates largely follow the guidelines and standards prescribed in the International Monetary Fund’s 2017 Quarterly National Accounts Manual.
It also said the new national accounts series has adopted the “Double Deflation” approach for estimating GVA in the manufacturing sector.
The Q1 growth figures provide an indication of continued resilience in domestic economic activity despite external headwinds. The government has emphasised the strength of the Indian economy in sustaining growth amid volatility in global markets and supply chains.
The latest data also showed that nominal economic output continued to expand at a faster pace, with both GDP and GVA recording double-digit growth in current-price terms.
Modi’s remarks followed the release of the official figures and highlighted the government’s emphasis on India’s ability to sustain economic expansion amid a difficult global backdrop.
