India’s 7.8% GDP Growth Reinforces Fastest-Growing Large Economy Status: Kwatra
NEW YORK: India’s economy continues to maintain its position as the fastest-growing large economy in the world, with real GDP expanding 7.8 per cent in the first quarter of the 2026-27 fiscal year, Indian Ambassador to the US Vinay Kwatra said on Wednesday.
Kwatra made the remarks while ringing the opening bell at the Nasdaq stock exchange in New York. He highlighted India’s strong economic and technological transformation, driven by its entrepreneurial ecosystem, expanding digital capabilities and young workforce.
“India is undergoing a significant economic and technological transformation,” Kwatra said, pointing to the country’s latest GDP figures for the April-June quarter.
According to data released by the Ministry of Statistics and Programme Implementation (MoSPI), India’s real GDP grew 7.8 per cent in Q1 FY2026-27, compared with 6.9 per cent in the same quarter a year earlier. Nominal GDP grew 10.3 per cent during the quarter.
The latest growth figure also exceeded the Reserve Bank of India’s earlier estimate of 7 per cent for the quarter. The government said the expansion was supported by strong domestic demand, manufacturing and services activity.
Kwatra’s remarks at Nasdaq underscored the growing economic and technology ties between India and the United States, as India seeks to deepen engagement with American companies and investors.
