India's Q1 FY27 GDP Growth at 7.8% Defies Global Headwinds, Bhalla Argues
· Business · Indian Express, India Today
India's real GDP grew 7.8 per cent in April-June 2026 over the same quarter in 2025, with nominal growth at 10.3 per cent and an implied economy-wide price rise of 2.3 per cent, according to Surjit Bhalla's column. The IMF projects global growth of 3.0 per cent in 2026 versus 2.9 per cent in 2025, suggesting India is outperforming the world despite war and tariff disruptions. Bhalla defends the methodology, noting that the 2022-23 national accounts series abolished single deflation and now double-deflates manufacturing and agriculture, addressing long-standing criticism. Producer price indices, requested by the IMF, were published for the first time in June, further strengthening data credibility. Prices across consumption, government, and investment rose 4.4 per cent, above consumer inflation of 3.9 per cent.
Why it matters
Strong quarterly GDP numbers reinforce India's growth narrative at a time when global trade tensions are escalating, affecting investor sentiment, RBI policy decisions, and currency stability. The methodology upgrades address years of opposition criticism and could reshape debates over the reliability of official economic data.
Read the original report — Indian Express
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