Economic Resilience: India's 7.8% Growth Amid Global Challenges
Prime Minister Narendra Modi announced that India's economy grew by 7.8% in the first quarter, surpassing all expectations. Despite global challenges, India remains the fastest-growing major economy. Modi hinted at upcoming reforms and commented on the new US tariff measures. India's growth outshines China and significantly challenges the US economy.
- Country:
- India
In a confident address at the Semicon India 2025 conference, Prime Minister Narendra Modi highlighted India's impressive 7.8% economic growth in the first quarter—a figure surpassing expectations amidst global turmoil. This growth trajectory supports India's ambition of becoming the world's third-largest economy.
Modi pointed out that India's rapid growth remains visible across all sectors, including manufacturing, agriculture, and services, generating palpable enthusiasm nationwide. His remarks follow the US's recent imposition of a 50% tariff on Indian goods due to India's continued Russian oil imports.
As Modi announced plans for a new phase of next-generation reforms, including possible changes to the GST, he reaffirmed India's resilience and commitment to economic advancement despite international pressures from US policy measures.
(With inputs from agencies.)
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