India's Q1 GDP Hits 7.8%, Manufacturing Surges 9.2% As PM Modi Hails Herculean Growth
Prime Minister Narendra Modi hailed India's economic growth as gross domestic product expanded by 7.8% in the first quarter of financial year 2026-27, calling it a Herculean feat. The Prime Minister stated that the collective strength of the people ensured strong growth despite global uncertainties, oil price shocks, and supply chain issues, remarking that doomsayers were doomed while India bloomed. The growth numbers surpassed projections, driven primarily by robust domestic consumption and substantial government capital expenditure in infrastructure, including railways expansion. Key industrial sectors reflected sharp upturns, with manufacturing growing at 9.2% compared to 8.3% a year earlier, and electricity recording 8.9% growth against a contraction previously. Economists noted that trickle-down impacts of past policy measures, welfare schemes, and resilient exports helped shield the domestic economy from international challenges, raising full-year growth expectations for the fiscal year toward 7%.
