NEW YORK, (Economy India): India continues to maintain its position as the fastest-growing large economy in the world, with real GDP expanding by 7.8 per cent in the April-June quarter of 2026-27, Indian Ambassador to the US Vinay Kwatra said.
Kwatra made the remarks while ringing the opening bell at the Nasdaq stock exchange in New York, highlighting India’s growing economic and technological influence globally. The latest growth figure also came in above the Reserve Bank of India’s earlier 7 per cent forecast.
“India is undergoing a significant economic and technological transformation, driven by a strong entrepreneurial ecosystem, expanding digital capabilities and a young and talented workforce,” Kwatra said.
Strong Domestic Economic Momentum
The 7.8 per cent growth recorded in the first quarter of FY2026-27 reflects continued resilience in the Indian economy despite global uncertainties. Manufacturing, services, domestic consumption and investment have remained important contributors to economic activity.
India’s growth has also benefited from strong domestic demand and government spending, while exports and investment provided additional support during the quarter.
The latest GDP number is particularly significant because it comes amid geopolitical tensions, energy-market volatility and uncertainty in global trade. India has managed to sustain relatively strong economic momentum despite these external challenges.
Technology and Entrepreneurship Driving Growth
Kwatra also emphasized the role of India’s technology ecosystem in the country’s economic transformation. Rapid digital adoption, a large technology workforce and the expansion of startups and innovation are increasingly becoming important pillars of India’s growth story.
India’s large and young workforce, combined with its expanding digital infrastructure, is helping create opportunities across technology, financial services, manufacturing, e-commerce and other emerging sectors.
Debate Over New GDP Methodology
The latest GDP figure has also triggered debate among economists and former government officials. The government has defended the 7.8 per cent estimate, saying it reflects improvements in the methodology and data used to calculate national income.
The new GDP series uses 2022-23 as its base year and incorporates more detailed price data, including a shift toward the Producer Price Index. Officials have rejected allegations that revisions were made to artificially increase the reported growth rate.
Despite the debate, the official data continues to show India among the world’s fastest-growing major economies. The strong quarterly performance is expected to keep attention focused on India’s ability to sustain high growth while creating jobs, attracting investment and expanding its manufacturing and technology capabilities.
India’s 7.8 per cent GDP growth therefore reinforces its image as a major global growth engine, even as policymakers and economists continue to examine the country’s changing economic landscape.
(Economy India)
