PM Modi lauds 7.8% growth ‘despite wars, instability’; revives appeal for austerity measures

Prime Minister Narendra Modi expressed satisfaction with India's 7.8% GDP growth in the April-June 2026 quarter (Q1 FY27), attributing the achievement to the nation's determination despite ongoing global instability. In an Instagram post, the Prime Minister requested citizens to refrain from purchasing gold and participating in foreign holidays and weddings to conserve foreign exchange reserves.

Despite conflicts worldwide, India managed to grow at a faster pace than last year (8.6% YoY) but at a slower rate than the previous quarter (6.9% YoY). Modi emphasized the importance of self-reliance and urged the country to "become self-reliant" to maintain growth momentum. He also accused certain individuals of spreading negativity and falsehood, asserting that India's progress was evident despite such challenges.

The Prime Minister encouraged citizens to embrace the 'vocal for local' movement and urged them to prioritize Swadeshi, self-reliance, and local production for a developed India by the 100th year of Independence.