India's early slowdown in GDP growth led Western analysts to label it the weakest link in the BRICS grouping, but its subsequent economic recovery has repositioned it as a pivotal member. The shift reflects changing perceptions of India's role in the emerging market coalition.
Addressing the BRICS Business Forum in New Delhi, Putin contrasted the bloc's economic performance with that of the G7, saying the seven-member grouping accounted for 29 per cent of global GDP and just 18 per cent of growth over the same period.
The IMF reported that India’s real GDP grew 7.8% in the first quarter of FY27, exceeding its own forecasts. The agency praised recent improvements in data transparency and revisions to the GDP methodology despite global energy price shocks.
Putin said that over the last five years, more than half of that growth has been accounted for by BRICS, whereas the G7 has only accounted for 18%.
The Indian government reported a 7.8% rise in GDP for the first quarter of FY 2026‑27, prompting praise from the Prime Minister and the chief economic adviser. The figure was immediately challenged by former Finance Secretary Saurabh Garg, who claimed the true nominal growth was only 2.6%, sparking a political and statistical controversy.
Presenting Maharashtra as India’s industrial and financial powerhouse, the deputy CM said the State contributes nearly 14% of India’s GDP and attracts over 30% of the country’s Foreign Direct Investment.
Dinakar attacks Oppn. over ‘misleading’ GDP growth claims
Mr. Mishra’s statement on X came amid a political row over the growth figures released by the government, which were contested by former Finance Secretary, S. C. Garg.
Soumya Kanti Ghosh spoke to NDTV on the GDP growth data.
India recorded 7.8% GDP growth in Q1 FY27, but former finance secretary Subhash Chandra Garg questioned whether the figure reflects the exact reality.
Commerce Minister Piyush Goyal defended the 7.8 per cent quarterly GDP growth number.
‘They Cannot Digest 7.8% Growth’: Piyush Goyal Slams GDP Critics, Defends Modi Govt Data
Prime Minister Narendra Modi termed the 7.8% GDP growth a "herculean feat"
‘Why were last year’s GDP figures revised down?’ Congress cites ex-finance secretary Subhash Garg Telegraph India 'Ministers don't manufacture data': Goyal hits out at critics for questioning GDP figures The Times of India 7.8% GDP growth: PM Modi’s message on spending, ‘Swadeshi’ and self-reliance explained The News Minute If GDP is robust, then...
Congress questions methodology behind the latest GDP figures, with Jairam Ramesh alleging that 'statistical gymnastics’ concealed the underlying weakness of the economy
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