'Doomsayers were doomed, India bloomed': PM Modi as GDP growth jumps to 7.8% in Q1 FY27
India's nominal GDP grew 10.3%, compared with 8.1% a year earlier. Real GVA grew 8.2%, while nominal GVA increased 11.5%
- Aug 31, 2026,
- Updated Aug 31, 2026 5:21 PM IST
Prime Minister Narendra Modi on Monday hailed India's 7.8% real GDP growth in the first quarter of FY 2026-27. The Indian economy, he said, had delivered strong growth despite oil price shocks, supply chain problems, and global uncertainty.
"India's exemplary GDP growth of 7.8% during Q1 of FY 2026-27 is a herculean feat," Modi said in a post on X. "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."
"Doomsayers were doomed and India bloomed…yet again!" the PM added.
Don't Miss: Global headwinds no bar: India's Q1 GDP surges 7.8% as investment & services fire on all cylinders
India's GDP Growth Accelerates
India's real GDP grew 7.8% in Q1 FY27, up from 6.9% in the same quarter of FY26, according to data released by the Ministry of Statistics & Programme Implementation on Monday.
Nominal GDP grew 10.3%, compared with 8.1% a year earlier. Real GVA grew 8.2%, while nominal GVA increased 11.5%.
The tertiary or services sector grew 10% at constant prices. Financial, real estate, IT, and professional services led the expansion, growing 12.1%.
The secondary sector grew 8.6%, while the primary sector expanded 2.9%. Agriculture and allied activities grew 3.6%.
Gross fixed capital formation grew 11.9% at constant prices during the quarter, compared with 5.8% in Q1 FY26. Private final consumption expenditure grew 7.1%.
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Sitharaman Credits People
Finance Minister Nirmala Sitharaman also welcomed the GDP numbers. "The credit for this strong performance goes to the people of India and their hard work," she said.
Sitharaman said reforms undertaken by the NDA government, along with "an agile management of the economy", were bearing results.
Former NITI Aayog CEO Amitabh Kant said that India’s economy once again demonstrated "remarkable strength and resilience."
"These numbers emphatically put to rest fears that the Iran war shock and heightened global uncertainty would sharply weaken India’s growth momentum," Kant said. "On the contrary, they underline the depth of India’s macroeconomic resilience, strong domestic demand, and capacity to absorb external shocks."
Prime Minister Narendra Modi on Monday hailed India's 7.8% real GDP growth in the first quarter of FY 2026-27. The Indian economy, he said, had delivered strong growth despite oil price shocks, supply chain problems, and global uncertainty.
"India's exemplary GDP growth of 7.8% during Q1 of FY 2026-27 is a herculean feat," Modi said in a post on X. "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."
"Doomsayers were doomed and India bloomed…yet again!" the PM added.
Don't Miss: Global headwinds no bar: India's Q1 GDP surges 7.8% as investment & services fire on all cylinders
India's GDP Growth Accelerates
India's real GDP grew 7.8% in Q1 FY27, up from 6.9% in the same quarter of FY26, according to data released by the Ministry of Statistics & Programme Implementation on Monday.
Nominal GDP grew 10.3%, compared with 8.1% a year earlier. Real GVA grew 8.2%, while nominal GVA increased 11.5%.
The tertiary or services sector grew 10% at constant prices. Financial, real estate, IT, and professional services led the expansion, growing 12.1%.
The secondary sector grew 8.6%, while the primary sector expanded 2.9%. Agriculture and allied activities grew 3.6%.
Gross fixed capital formation grew 11.9% at constant prices during the quarter, compared with 5.8% in Q1 FY26. Private final consumption expenditure grew 7.1%.
In Case You Missed It: India-Japan trade at $50 billion: Why higher-value exports will be key to the target
Sitharaman Credits People
Finance Minister Nirmala Sitharaman also welcomed the GDP numbers. "The credit for this strong performance goes to the people of India and their hard work," she said.
Sitharaman said reforms undertaken by the NDA government, along with "an agile management of the economy", were bearing results.
Former NITI Aayog CEO Amitabh Kant said that India’s economy once again demonstrated "remarkable strength and resilience."
"These numbers emphatically put to rest fears that the Iran war shock and heightened global uncertainty would sharply weaken India’s growth momentum," Kant said. "On the contrary, they underline the depth of India’s macroeconomic resilience, strong domestic demand, and capacity to absorb external shocks."