India's 7.8% GDP growth: PM Modi credits national resolve, urges fiscal restraint

Prime Minister Narendra Modi has congratulated citizens on India's 7.8% GDP growth in the April-June quarter, attributing the achievement to the nation's collective resolve and efforts. In a social media post, he also appealed to the public to avoid buying gold and to refrain from foreign holidays and weddings to conserve foreign exchange reserves.

“Since the 2020 COVID pandemic, there has been no stability anywhere, but India has progressed well,” PM Modi said in an Instagram post. He noted that the growth was achieved despite wars and conflicts across the globe, and stressed the need to maintain growth momentum through self-reliance.

Modi credited the country's policies, intentions, and the strength of its people for the performance. He also accused certain individuals of attempting to spread negativity and falsehoods, but asserted that India progressed despite such efforts.

He renewed his appeal to be “vocal for local” by shunning foreign holidays and weddings, and advised against purchasing gold unless necessary. “If we continue to stress on Swadeshi, self-reliance, we will present our youth with a developed India in the 100th year of Independence,” he said. “Our hard work will fulfil the youth’s dreams; let’s not hold back.”

According to official data, India's Gross Domestic Product (GDP) grew at 7.8% in the April-June 2026 quarter (Q1 FY27). This is faster than the 6.9% recorded in the same quarter a year earlier, but slower than the 8.6% growth seen in the January-March 2026 quarter. The figures highlight the economy's resilience amid a complex global environment.

The Prime Minister's latest appeal echoes a seven-point austerity measure he had proposed in May 2026 to conserve foreign exchange and protect the economy amid energy and oil crises caused by the West Asia conflict. Those measures included reducing discretionary spending, promoting local products, and discouraging imported luxury goods. The renewed call underscores the government's focus on shielding the economy from external shocks while nurturing domestic consumption and production.

Economists note that India's growth trajectory remains one of the strongest among major economies, even as global uncertainty persists. However, the advice to limit gold imports and foreign travel comes against the backdrop of a widening current account deficit and pressure on the rupee. Officials have emphasised that small individual efforts can collectively contribute to the country's economic stability.

PM Modi's message frames the growth narrative as a validation of the government's policy direction, while also acknowledging the challenges ahead. His reference to “negativity and falsehood” appears to target political opponents, though he did not name any individual or group. The government has consistently maintained that India's economic fundamentals are sound and that the country is on track to become a developed nation by 2047, the centenary of Independence.