India’s growth outlook stays near 7%

Finance Minister Nirmala Sitharaman said India is likely to sustain 7% or higher growth in FY2026-27 when she addressed the Indian diaspora in Chicago during her US visit. She said geopolitical uncertainty and supply-chain disruptions from the US-Iran conflict and the Strait of Hormuz closure had affected imports, but India rerouted supplies, kept fertiliser prices unchanged through subsidies, and will continue reforms while seeking more overseas capital.

Finance Minister Nirmala Sitharaman said India is likely to grow 7% or more in FY2026-27, telling the Indian diaspora in Chicago that the economy has kept its momentum since the Covid-19 pandemic. She said the Strait of Hormuz disruption initially hit supplies of crude, petroleum products and fertilisers, but India rerouted them and kept fertiliser prices unchanged for farmers through subsidies, while seeking more capital and new investment agreements.

Deccan Herald reports that India's GDP expanded by 7.8 percent in the April-June quarter of the 2026-27 fiscal year, showing resilience against concerns surrounding the war in Iran and global economic uncertainty. Citing the Ministry of Statistics and Programme Implementation, the article notes that this growth rate surpasses the Reserve Bank of India forecast of 7 percent while maintaining India's position as the world's fastest-growing major economy. The publication also highlights that nominal GDP grew by 10.3 percent compared to the same period in the previous year.

Press Insider reports that India's economy expanded by 7.8 percent in the April-to-June quarter, beating forecasts amid manufacturing growth and consumer demand despite energy and supply-chain pressures from the Iran war. According to the article, the growth exceeded the Reserve Bank of India projection of 7 percent and Reuters poll estimates, though it was slower than the previous quarter. The report also notes analysts warning that rising Brent crude prices and uneven monsoon rainfall remain major downside risks for the full-year outlook.

AOL.com reports that India's economy expanded by 7.8% year-on-year in the April-June quarter, exceeding Reuters poll forecasts of 7.1%. Prime Minister Narendra Modi hailed the figures as a herculean feat amidst ongoing geopolitical tensions and oil market pressures. Analysts noted that tax cuts stimulated consumer spending and private investment doubled its pace, while experts warned of potential risks from high oil prices, rupee weakness, and deficient monsoons.

London Insider reports that India's economy expanded by 7.8% in the quarter ending June, surpassing analyst expectations of 7.1%. Strong performances in financial services, real estate, information technology, and professional services drove the quarterly results despite global headwinds. Economists noted that consumer demand remained robust and the Iran war had not impacted growth as severely as feared. Meanwhile, the central bank cautioned that energy prices, inflation, and monsoon risks could weigh on future economic activity.

India's News.Net reports that India's real gross domestic product grew by 7.8% in the first quarter of the 2026 to 2027 financial year, beating the Reserve Bank of India estimate of 7%. According to data from the Ministry of Statistics and Programme Implementation, the economy maintained momentum despite global headwinds. The outlet states that nominal GDP reached 88.27 lakh crore rupees and notes that current estimates are subject to future revisions.