PM Modi lauds 7.8% growth ‘despite wars, instability’; asks people not to buy gold ‘unless necessary’
Prime Minister Narendra Modi celebrated India's 7.8% GDP growth while urging citizens to practice austerity by avoiding gold purchases and foreign travel. He emphasized self-reliance and 'vocal for local' policies to sustain economic momentum.
Why it matters
The government's push for economic nationalism and austerity reflects concerns over foreign exchange reserves amid global geopolitical instability.
Prime Minister Narendra Modi congratulated the people on India’s 7.8% GDP growth in the April-June quarter , crediting the nation’s resolve and efforts for the achievement. He also requested people not to buy gold and to shun foreign holidays and weddings to preserve foreign exchange reserves.
“Since the 2020 COVID pandemic, there has been no stability anywhere, but India has progressed well,” said PM Modi in an Instagram post.
He said that the country achieved this milestone despite wars and conflicts across the globe. “We have to maintain the speed of our growth, and for that, we must become self-reliant,” PM Modi said. He credited the growth to the country’s policies, intentions and people’s strength.
“Certain people in India have been trying to spread negativity, falsehood,” he accused. “But we progressed well despite all that.”
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