India’s real GDP grew by 7.8 per cent in the first quarter (April–June) of FY 2026–27, as per official data released by the Ministry of Statistics and Programme Implementation
The International Monetary Fund (IMF) said Thursday that the 7.8 per cent growth in India’s Gross Domestic Product (GDP) was driven by “stronger-than-expected” activity in the services sector and in exports, adding that the outturn reflected the resilience of the country’s economy against the backdrop of an energy price shock caused by the Iran war.
Addressing a media briefing, IMF spokesperson Julie Kozack explained that when energy or oil prices increase, it affects the balance of payments of energy importers as well as their fiscal positions.
“In India’s case, the shock has occurred at a time when the country has been in a stronger economic position. We are monitoring the effects of higher oil prices on the Indian economy and will announce our new forecasts for India in October… So far, India has shown quite a lot of resilience to the energy price shock”, she said.
The IMF spokesperson said India’s GDP growth was “above our staff’s expectations”.
“… India’s real GDP in the second quarter grew by 7.8%. That was above our staff’s expectations and also the consensus among other observers. This upward surprise was driven by stronger-than-expected activity in the services sector and in exports. The outturn also underscores the resilience of the Indian economy despite the energy price shock. It also means that India does remain a key growth engine for the world.”
India’s GDP Grew By 7.8%
India’s real GDP grew by 7.8 per cent in the first quarter (April–June) of FY 2026–27, according to official data released by the Ministry of Statistics and Programme Implementation (MOSPI).
The latest GDP data incorporates a revised Index of Industrial Production and a new Producer Price Index series, improving the measurement of economic activities and enhance India’s GDP estimates.