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Modi Says India’s 7.8% Growth Offers Global Hope
India’s economy grew by 7.8% during the April-June quarter of FY2026-27.
Prime Minister Narendra Modi said this was important because many countries are facing conflicts and uncertainty.
Energy and other goods have also become harder to supply.
He said India’s growth gives people around the world new hope.
A Japanese credit rating agency recently raised India’s rating to the A category.
Modi said this showed that others had more confidence in India’s economy.
He also said the government would continue its reform plans faster.
At a fintech event, he asked technology companies to improve security, data protection, and consumer safety.
India’s economy grew 7.8% in the April-June quarter of FY2026-27, despite global uncertainty and oil shocks linked to war in West Asia.
Prime Minister Narendra Modi said India’s growth could provide fresh hope as conflicts, trade tensions, and supply-chain pressures continue worldwide.
Modi linked confidence in India to a Japanese credit rating agency upgrading the country’s sovereign rating to the A category.
He said the rating upgrade followed three decades without such an improvement and reflected growth momentum, macroeconomic stability, and structural reforms.
At the Global Fintech Fest 2026, Modi urged fintech companies to strengthen cybersecurity, data protection, innovation cooperation, and consumer safeguards.
- Who
- Prime Minister Narendra Modi and India’s fintech sector.
- What
- Modi highlighted India’s 7.8% economic growth and called for faster reforms and stronger fintech safeguards.
- Where
- Mumbai, Maharashtra.
- When
- The growth occurred in April-June 2026, the first quarter of FY2026-27; Modi spoke at the Global Fintech Fest 2026.
- Why
- Modi said India’s growth offered hope amid global conflicts, uncertainty, energy pressures, commodity-supply problems, and trade tensions.
Key facts
- Economic growth
- India grew 7.8% in the first quarter of FY2026-27.
- Quarter covered
- April-June 2026.
- Global conditions
- The period was marked by conflicts, uncertainty, energy and commodity supply pressures, and trade tensions.
- Sovereign rating
- A Japanese credit rating agency upgraded India to the A category.
- Rating context
- Modi said the upgrade came after three decades.
- Fintech priorities
- Cybersecurity, ethical data protection, regulator-industry innovation, and consumer protection.
- Proposed measure
- A fintech consumer protection index could transparently rate fintech companies.
Quotes
Narendra Modi
Prime Minister of India
“All of you are well aware of the current global situation. The world is passing through a phase of conflicts and uncertainty. There is pressure on energy and commodity supply chains. There is tension regarding trade. This situation has persisted for months now. The April-June quarter has been the most challenging. Even then, when India grows by 7.8%, the world sees a fresh hope.”
businesstoday.in
“This shows that the world is so assured of India's growth momentum, our macroeconomic stability, and structural reforms in the past few years.”
businesstoday.in
Sources
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