India’s Q1 GDP Grew 7.8%, Beating 7.3% Median Expectation

India’s economy grew 7.8% in the first quarter, exceeding the 7.3% median expectation, despite higher energy costs linked to the Iran war and a weaker rupee. According to Jin10, India’s Ministry of Statistics and Programme Implementation said the stronger-than-expected growth came even as external shocks weighed on the outlook. The report said India’s economy has faced pressure from a recent series of external disruptions, including additional U.S. tariffs and the follow-on effects of the Iran war, leaving prospects unclear. On Friday, the Reserve Bank of India announced measures aimed at attracting foreign capital, including expanding access to government bonds to encourage inflows and ease pressure on the rupee, while keeping interest rates unchanged. The government also removed capital gains tax for foreign investors on bond investments, seeking to shield the economy from an energy crisis shock associated with the Iran war.