IMF Hails India’s 7.8% GDP Growth In Q1 FY27 As Economy Beats Expectations, Shows Resilience Amid Energy Price Shock | Watch
New Delhi: India's economy has shown resilience despite the energy price shock, with the country's 7.8 per cent real GDP growth in the first quarter of FY27 coming in above expectations, the International Monetary Fund (IMF) said, while also welcoming changes in India's GDP estimation system amid a debate over the integrity and transparency of the data. IMF spokesperson Julie Kozack said India's…
India's economy grew by a strong 7.8% in the first quarter of fiscal year 2027 (Q1 FY27), surpassing expectations and demonstrating resilience amid an energy price shock, according to the International Monetary Fund (IMF). The IMF spokesperson, Julie Kozack, stated that this growth was driven by stronger-than-expected activity in the services sector and exports.
This upward surprise was higher than the IMF staff's expectations and the consensus among other observers. Kozack also highlighted recent changes made to India's GDP estimation system, including the introduction of a new index of industrial production and a new producer price index series, which should help improve the accuracy of India's economic data.
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