India posts 7.8% Q1 growth as Putin offers Su-57, AirTrunk pledges $30bn AI buildout
India's economy grew 7.8% in the January-March 2026 quarter, beating forecasts, though the RBI trimmed its FY27 growth projection to 6.6% citing fallout from the Middle East/Iran crisis on energy prices and supply chains. Australian operator AirTrunk (backed by Blackstone and CPPIB) announced a Rs 3 lakh crore (~$30bn) plan to build 5GW of data-centre capacity by 2030, a major vote of confidence in India's AI and cloud ambitions. On the diplomatic front, Vladimir Putin praised Delhi ties, offered joint development of the Su-57 fifth-generation fighter, and pledged Russian non-interference in the India-China border dispute. Meanwhile Donald Trump called Modi a 'good friend' but reiterated grievances that India had 'taken advantage' on trade.
Why it matters
India is navigating a delicate multi-alignment, courting US, Russian and global capital simultaneously while shielding its growth story from Middle East shocks and US trade friction. Putin's Su-57 offer—revisiting a partnership Delhi abandoned in 2018—reflects intensifying competition with the US F-35 pitch and Pakistan's pivot to China's J-35, underscoring how great-power defence diplomacy is courting India amid a contested Indo-Pacific.
🔎 Ground signal
Notable amid Chinese-language commentary: reports that India is moving to restrict Chinese air-conditioner imports even as deadly heatwaves cause thousands of deaths, highlighting the tension between self-reliance ('Make in India') manufacturing goals and domestic supply gaps.