India's GDP Growth Projected at 7.4% for FY26, Fastest-Growing Major Economy

Referring to the Economic Survey 2025-26, presented in Parliament by Finance Minister Nirmala Sitharaman, Goyal noted that the First Advance Estimates project real GDP growth at 7.4 per cent for the Financial Year (FY) 2025-26, reinforcing India's position as the fastest-growing major economy for the fourth consecutive year.

"The Indian economy has sustained strong momentum, with the First Advance Estimates projecting real GDP growth at 7.4% for FY 2025-26. This underscores India's position as the fastest-growing major economy for the 4th consecutive year," Piyush Goyal wrote on X on Thursday.

Goyal noted that India recorded an inflation rate of 1.7per cent during April-December 2025, largely due to a contraction in food prices for key commodities like vegetables and pulses, demonstrating effective inflation management by the government.

He also emphasised the government's focus on strengthening manufacturing, describing the progression from 'Swadeshi' to 'Strategic Resilience' and now 'Strategic Indispensability,' aimed at promoting confidence in 'buying Indian without thinking.'

Initiatives such as Make in India, Aatmanirbhar Bharat, and the Production Linked Incentive (PLI) schemes have spurred investment, boosted industrial activity, and created employment opportunities.

He also highlighted reforms such as the National Logistics Policy and the Unified Logistics Interface Platform (ULIP), which are improving logistics efficiency, reducing transaction costs, and enhancing competitiveness in manufacturing.

"Manufacturing activity has shown a strong revival, with growth of 7.72% in Q1 and 9.13% in Q2 of FY 2025-26, driven by reforms and the Production Linked Incentive (PLI) schemes. As of September 2025, the PLI schemes have realised actual investments of over ₹2 lakh crore, resulting in incremental production exceeding ₹18.70 lakh crore and generating employment for over 12.60 lakh people," Goyal further wrote.

Aligned with Prime Minister Modi's vision of 'Sabka Saath, Sabka Vikas, Sabka Vishwas, Sabka Prayaas,' Goyal said state-level deregulation drives are boosting ease of doing business, supporting the nation's goal of becoming the third-largest global economy and achieving the 'Viksit Bharat by 2047 vision.'

Uttar Pradesh Chief Minister Yogi Adityanath also hailed the Economic Survey on X, stating it underscores India's strong growth momentum, controlled inflation, rising private investment, and focus on manufacturing, innovation, and inclusive development.

He also stated that the nation is steadily advancing toward a self-reliant, developed India under the visionary leadership of Prime Minister Modi.

"The Economic Survey 2025-26 underscores India's strong growth momentum, anchored in robust macroeconomic fundamentals, controlled inflation and a strong domestic demand base, even amid global uncertainty. With healthier balance sheets, rising private investment and a renewed focus on manufacturing, innovation and inclusive development, India is steadily advancing towards Viksit Bharat. Under the visionary leadership of Hon. PM Shri @narendramodi ji, the nation's journey towards a self-reliant and developed India continues with confidence and clarity," CM Yogi wrote on X.

The Economic Survey says 'India's external sector remains strong, with deepening global integration driven by robust exports, resilient services trade, and expanding trade networks. This reflects increased competitiveness, diversification, and adaptability to global demand.'

The Economic Survey of India is regarded as the nation's official annual "report card" on the economy. It provides a comprehensive, data-backed review of the economy's performance over the previous year and offers a broad roadmap for future policy direction. As the government's flagship annual report, it reviews key economic developments over the past 12 months.

- ANI