The Indian economy continues to grow despite the problems arising from “economic selfishness“. This was stated by Indian Prime Minister Narendra Modi, speaking at the Semicon India 2025 conference.
“Just a few days ago, GDP data for the first quarter of this year was published. India has once again surpassed all expectations and estimates. At a time when the global economy is facing problems caused by economic selfishness, India has achieved a growth of 7.8%, said the head of the Indian government.
As noted by the NDTV channel, Modi commented in this way on the new US trade policy, the high tariffs imposed by the Washington administration on Indian goods, as well as US President Donald Trump's statements about the alleged “dead economy” India.
India's statistics ministry earlier said that growth in the services sector led to a 7.6% real growth in gross value added (GVA) in the Indian economy in the first quarter of the fiscal year 2025-2026.
A 25% tariff imposed by the US on Indian goods due to India's purchase of Russian oil came into effect on August 27. Previously, the Washington administration had imposed a 25% tariff on the republic as part of the country's new trade policy. Thus, India was among the US trading partners with the highest tariffs, with the country's rate being 50%.