Buy Gold Only If Needed, Avoid Foreign Trips, Continue Choosing 'Swadeshi': Modi
The prime minister also said that since the 2020 Covid pandemic, there has been no stability anywhere, yet India progressed well. “On the other hand, people mired in despair are busy spreading 'jhooth ki goonj' and pessimism all around. My government’s policies are good, its intentions clear, and that is why the country is reaching new heights of progress,” he said
New Delhi: Hailing India's economic growth of 7.8 per cent in the April-June 2026 quarter, Prime Minister Narendra Modi once again on Tuesday cautioned the Indian public to choose ‘Swadeshi’ in terms of their travel plans, and wedding locations, and to refrain from buying gold unless necessary. He also congratulated the people in India for the robust GDP growth in the first quarter of this fiscal, crediting the nation’s resolve and efforts for the achievement.
A day after sharing his thoughts in a social media post, in a video message on Instagram he also called the feat particularly impressive, coming against the backdrop of global turmoil, geopolitical conflicts, and supply chain disruptions. He also slammed those spreading ‘jhooth ki goonj’ pointing out Rahul Gandhi’s ‘chhatron ki goonj' campaign, saying the latest GDP growth rate tore through the narrative of ‘pessimism’ about the Indian economy.
Modi reiterated that India must maintain the growth momentum and continue working towards greater self-reliance and ‘Swadeshi’. Besides, the Prime Minister also requested people not to buy gold and to shun foreign holidays and weddings to preserve foreign exchange reserves. “We must maintain this momentum. We must keep moving forward, and for that, becoming Atmanirbhar Bharat is essential,” he said.
He also asked people not to go for foreign holidays, host weddings abroad, or buy gold unless necessary. Instead, he asked people to go for ‘Weddings in India’. “I want to congratulate the people of the country for 7.8 per cent GDP growth. It has been possible due to their collective resolve and efforts. India has achieved this milestone despite conflicts, wars and instability and economic uncertainty everywhere,” Modi said.
The prime minister also said that since the 2020 Covid pandemic, there has been no stability anywhere, yet India progressed well. “On the other hand, people mired in despair are busy spreading 'jhooth ki goonj' and pessimism all around. My government’s policies are good, its intentions clear, and that is why the country is reaching new heights of progress,” he said.
Meanwhile, former chief economic adviser Krishnamurthy V Subramanian also echoed the PM’s voice against those who criticise the country’s growth, alleging that some economists and global institutions tend to underestimate India’s economic growth performance. “Credible optimism is not ‘cheerleading’, but pessimism without evidence should not be mistaken for intellectual sophistication,” Subramanian said.
Five years ago, Subramanian had predicted that India would grow at more than 7 per cent during this decade. “Credible optimism is not cheerleading. Optimism without evidence is wishful thinking. But pessimism without evidence should not be mistaken for intellectual sophistication,” Subramanian said.
Subramanian said that there is a repeated tendency to underestimate India' economic growth performance by some global institutions and some economists. “The International Monetary Fund has projected India's growth to be 6.6 per cent in FY’24, 6.3 per cent in FY’25, 6.2 per cent in FY’26 and 6.1 per cent in FY’27. Each of these estimates is far below India's actual growth,” he added.
