PM Modi economy statement – Bharat Pulse News

Prime Minister Narendra Modi said India recorded 7.7% economic growth despite global uncertainty and the Middle East conflict, describing the performance as evidence of the country’s economic resilience and reform-driven momentum. India records 7.7% GDP growth Addressing the media before the Monsoon Session of Parliament on Monday, Modi said India had maintained strong economic growth despite disruptions affecting international trade, energy markets and supply chains. Official provisional estimates show that India’s real gross domestic product expanded by 7.7% during the 2025-26 financial year, compared with 7.1% in the previous year. The economy was supported by strong performances in the secondary and tertiary sectors. Real GDP grew by an estimated 7.8% during the final quarter of 2025-26, while private consumption and fixed capital formation both registered growth of more than 7.5% over the full financial year. Middle East crisis pressures economy The continuing conflict in the Middle East has raised concerns for India because of its dependence on imported crude oil. Disruptions around the Strait of Hormuz have reduced shipping activity, increased freight costs and contributed to higher global energy prices. India’s merchandise trade deficit widened to $30.43 billion in June as exports declined and regional shipping disruptions affected trade flows. Brent crude prices have also risen above $90 a barrel amid escalating US-Iran hostilities. Higher oil prices could increase India’s import bill, place pressure on the rupee and contribute to domestic inflation if the conflict continues. Modi highlights economic resilience Modi attributed India’s economic performance to government reforms and the efforts of the country’s citizens. He said the growth rate demonstrated that the economy remained strong despite challenging international conditions. The prime minister also called for a productive Monsoon Session and urged political parties to participate constructively in parliamentary discussions on national priorities.

India Records 7.7% Growth Amid Gulf Crisis – PM Modi

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