PM Modi hails India’s 7.8 per cent GDP growth despite wars, instability and global supply disruptions

Prime Minister Narendra Modi on Tuesday hailed Indiarsquos 78 per cent GDP growth in the AprilJune quarter saying the expansion was achieved despite wars geopolitical instability and disruptions to global supply chainsIn a video message shared on Instagram PM Modi congratulated citizens for the growth rate and attributed the performance to their collective resolve and hard work He also renewed his call for greater selfreliance and the use of domestically produced goods saying these efforts would help build a developed India by the centenary of IndependenceModi cites global conflicts and economic uncertaintyI want to congratulate the people of the country for 78 per cent GDP growth It has been possible due to their collective resolve and efforts India has achieved this milestone despite conflicts wars and instability everywhere Modi saidThe Prime Minister said the global economy had faced continued uncertainty since the COVID19 pandemic in 2020 with conflicts and supply chain disruptions adding to the challengesMany congratulations to the countrymen 78 per cent growth The country is filled with joy But I congratulate the countrymen for their willpower for their hard work it is a reflection of collective strength The world is engulfed in war news of war is coming from all around Surrounded by global crises supply chains are completely disturbed From the Covid period in 2020 until now nowhere is stability visible Despite that India is progressing at a fast pace he saidVeiled attack on Opposition over criticism of economyModi also appeared to take a swipe at his political opponents saying some people within the country were attempting to spread negativity and falsehood despite Indias economic progressOn the other hand inside India too people immersed in the depth of despair Jhooth Ki Goonj are engaged in spreading despair all around Crossing all these things piercing through all those matters the country has achieved 78 per cent growth We have to maintain this speed we also have to grow the Prime Minister addedHis remarks came amid a political row over Rahul Gandhis Chhatron Ki Goonj campaign and criticism directed at it by the BJP The ruling party has alleged that several statements made by Gandhi during events linked to the campaign were inaccurate or misleadingPM stresses selfreliance and domestic consumptionThe Prime Minister said sustaining Indias growth momentum would require greater selfreliance and continued efforts to strengthen domestic productionWe have to maintain the speed of our growth We have to grow And for that we must become selfreliant The youths dreams need our hard work to be realised Lets not be lacking in efforts he saidModi also reiterated his appeal to citizens to support domestic economic activity and reduce spending abroad where possible He asked people to reconsider travelling overseas for holidays holding weddings outside India and purchasing gold unless necessaryIf you are going to any foreign country then stop If you are getting married abroad then you should stop it We should live by the mantra of Wed in India If it is not necessary then we should not buy gold he saidGovernment policies helped drive progress ModiModi said his governments policies and intentions had contributed to the countrys economic progressThe more we emphasise Swadeshi and Atmanirbharta I am firmly convinced that when 100 years of independence are completed we will hand over a Viksit Bharat to our youth he addedIndias economy grew by a fasterthanexpected 78 per cent in the AprilJune quarter of the 202627 financial year demonstrating resilience despite concerns over the impact of conflict in West Asia and disruptions in energy marketsHowever the firstquarter growth rate was lower than the 86 per cent recorded in the preceding quarterStrong demand remains a key driver of growthIndia continues to remain among the worlds fastestgrowing major economies with domestic demand providing support to overall economic activityRecent vehicle sales data also pointed to continued strength in consumer demand Domestic passenger vehicle sales reached 458 lakh units in July an increase of 343 per cent from a year earlier and the strongest July performance on record according to official figures