India Q1 GDP Growth 7.8%

India reported real GDP growth of 7.8% in the first quarter of fiscal year 2026-27 (April-June), exceeding market expectations of around 7.3% and the State Bank of India's forecast of 7%. The growth was supported by strong manufacturing (9.2%), power and gas (8.9%), and finance, real estate and professional services (12.1%). Nominal GDP grew 10.3%, and real GVA grew 8.2%. The data was released by the India — Ministry of Statistics and Programme Implementation on August 31, 2026. Prime Minister Narendra Modi hailed the growth as a 'herculean feat', while Finance Minister Nirmala Sitharaman credited reforms and agile economic management. The United States — White House described India as a 'very dynamic and very strong and resilient economy', and Finance Minister Sitharaman touted the growth at an investors meet in New York. The India — Indian rupee strengthened against the US dollar, closing around 94.94-95.22. However, the India — Indian National Congress and former finance secretary Subhash Chandra disputed the figures, alleging statistical revisions overstated growth, with Garg claiming real growth was around 2.6%. The growth occurred despite the Iran conflict and elevated oil prices.