https://sputniknews.in/20260720/indias-economy-grows-77-despite-us-iran-war-disruptions-pm-modi-11716516.html
India’s Economy Grows 7.7% Despite US-Iran War Disruptions: PM Modi
India’s Economy Grows 7.7% Despite US-Iran War Disruptions: PM Modi
Sputnik India
India continued to remain the world's fastest-growing major economy despite supply chain disruptions caused due to the West Asia conflict, Prime Minister Narendra Modi told reporters at Parliament House in New Delhi on Monday.
2026-07-20T13:19+0530
2026-07-20T13:19+0530
2026-07-20T13:19+0530
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The disruptions, triggered by the US war on Iran, have raised major concerns for India due to its heavy dependence on energy imports, Modi said at the opening of the Monsoon Session of Parliament, scheduled from 20 July to 13 August.India faced significant challenges following disruptions to imports of petrol, diesel, liquefied petroleum gas (LPG), fertilisers and chemicals after the blockade of the Strait of Hormuz, he highlighted.He described the growth as a testament to India’s resilience and capability, adding that the country remains determined to scale new heights with the same momentum.Before February 2026, 40–45% of India’s crude imports, 90% of LPG supplies, and about 15% of urea and chemical supplies were routed through the Strait of Hormuz, according to Indian government estimates and other assessments.To offset the disruption, India significantly increased its purchases of Russian crude. By June, Russia has supplied around 2.6 million barrels per day (mbpd) of crude, meeting half of India's overall imports, according to Kpler and London Stock Exchange Group (LSEG) analysts.The National Statistical Office (NSO) reported last month that India’s GDP grew 7.7% in FY 2025–26, including 7.8% growth in the fourth quarter, based on the 2022–23 GDP series.
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India’s Economy Grows 7.7% Despite US-Iran War Disruptions: PM Modi
India continued to remain the world’s fastest-growing major economy despite supply chain disruptions caused by the West Asia conflict, Prime Minister Narendra Modi told reporters at Parliament House in New Delhi on Monday.
The disruptions, triggered by the US war on Iran, have raised major concerns for India due to its heavy dependence on energy imports, Modi said at the opening of the Monsoon Session of Parliament, scheduled from 20 July to 13 August.
India faced significant challenges following disruptions to imports of petrol, diesel, liquefied petroleum gas (LPG), fertilisers and chemicals after the blockade of the Strait of Hormuz, he highlighted.
"Despite this, India’s GDP grew at 7.7%, continuing to be the world’s fastest-growing major economy," the Indian PM said.
He described the growth as a testament to India’s resilience and capability, adding that the country remains determined to scale new heights with the same momentum.
Before February 2026, 40–45% of India’s crude imports, 90% of LPG supplies, and about 15% of urea and chemical supplies were routed through the Strait of Hormuz, according to Indian government estimates and other assessments.
To offset the disruption, India significantly increased its purchases of Russian crude. By June, Russia has supplied around 2.6 million barrels per day (mbpd) of crude, meeting half of India's overall imports, according to Kpler and London Stock Exchange Group (LSEG) analysts.
The National Statistical Office (NSO) reported last month that India’s GDP grew 7.7% in FY 2025–26, including 7.8% growth in the fourth quarter, based on the 2022–23 GDP series.
