PM Modi renews call to avoid gold purchases, foreign trips; links 7.8% growth to 'Swadeshi' push

Prime Minister Narendra Modi on Tuesday congratulated people on India's 7.8% economic growth in the April-June quarter and called for greater emphasis on "Swadeshi", "Vocal for Local" and self-reliance to sustain the momentum.

In a post on Instagram, Modi said the growth rate was a matter of joy for the nation and reflected the "collective strength" and industrious spirit of its people.

"Heartiest congratulations to my fellow citizens. A growth rate of 7.8%—the nation is filled with joy," he said.

PM Modi noted that the world was facing conflicts and crises, supply chains had been severely disrupted and stability had remained elusive since the COVID-19 pandemic.

"Yet, India continues to progress rapidly," he said, adding that the country had achieved 7.8% growth despite such challenges.

The prime minister also urged citizens to embrace "Swadeshi" and "Vocal for Local", and called for greater preference for domestic consumption and activities.

"We must embrace the mantra of 'Swadeshi' and 'Vocal for Local.' We should avoid traveling abroad merely for leisure or hosting weddings in foreign lands; instead, we should live by the mantra of 'Weddings in India'," he said.

Modi also appealed to people to refrain from buying gold unless absolutely necessary.

"The more we emphasise 'Swadeshi' and self-reliance, the more confident I am that by the time we mark 100 years of independence, we will hand over a 'Viksit Bharat' to our youth," he said.

India's economy grew 7.8% in the first quarter of 2026-27, beating the Reserve Bank of India's 7% projection.

According to the latest GDP estimates released by the Ministry of Statistics and Programme Implementation on Monday, real GDP at constant 2022-23 prices stood at Rs 81.36 lakh crore in Q1 FY27, compared with Rs 75.46 lakh crore in the year-ago period.

Nominal GDP at current prices grew 10.3% to Rs 88.27 lakh crore from Rs 80 lakh crore a year earlier.

The ministry said the Indian economy had "sustained growth momentum despite global headwinds".

The stronger-than-expected growth came after the RBI raised its full-year GDP growth forecast to 6.7% from 6.6% earlier. It had projected quarterly growth of 7% in Q1, 6.4% in Q2, 6.5% in Q3 and 6.8% in Q4.

The latest data indicated that domestic demand continued to provide support to the economy amid global uncertainty, including the impact of the West Asia conflict.

PM Modi said the country should work collectively to realise the aspirations of its younger generation and build a developed India by the centenary of independence.

"Our policies are sound, and our intentions are pure. The combined strength of 1.4 billion Indians is uniting to take the nation to new heights," he said.

"Let us celebrate, make a firm resolve, and march forward together to turn that resolve into reality," he added.