New Delhi: Prime Minister Narendra Modi said on Friday that India’s growth momentum remains strong and the Union government would leave no stone unturned to further ‘ease of living’, ‘ease of doing business’ and increase opportunities for the country’s youth.
“The GDP growth rate of 7.7 per cent in FY 2025-26 and 7.8 per cent in Q4 of FY 2025-26 reflect the inherent strength of our economy, the success of reforms, and the hard work of 140 crore Indians,” Prime Minister Modi remarked.
“India has kept up its momentum as the world’s fastest growing major economies. Meanwhile, Germany grew at a mere 0.4 per cent growth rate, Japan at 0.8 per cent, the Euro Area at 1.3 per cent, and the G7 at 1.6 per cent,” he said.
China’s growth rate has also been slowing due to the lack of domestic demand in the economy with overcapacity building up in the manufacturing sector and increasing unemployment among youth.
India’s GDP data shows that both private and final consumption expenditure and gross fixed capital formation have exhibited more than 7.5 per cent growth during 2025-26.
This also reflects the massive investments by the government in big ticket infrastructure projects such the highways, railways, ports and airports which have helped to drive up the growth rate as India continues to be the fastest growing economy amid the global slowdown.
The secondary sector recorded a strong 8.8 per cent growth while the tertiary sector grew by 9.9 per cent, according to the official statement.
The primary sector recorded a 3.2 per cent, mainly driven by the performance of the agriculture and fisheries sectors.
Manufacturing, trade, repair, hotels, transport, communications and services related to broadcasting, storage and financial, real estate and professional services sectors have attained a double-digit growth during 2025-26, the official statement said.
The International Monetary Fund had forecast India to be the only economy that is expected to clock more than six per cent growth rate in 2025-26 as the US tariff turmoil disrupted world trade and geopolitical tensions added to the uncertainties in the global economy.
(IANS)
