New Delhi: Union Finance and Corporate Affairs Minister Nirmala Sitharaman said India continues to be the fastest-growing major economy in the world despite global disruptions.
Sitharaman made the remarks while participating in a high-level Business Roundtable with investors in New York, according to the Ministry of Finance.
The event was organised by the Consulate General of India in New York in association with Bank of America, the ministry said in a detailed post on X.
Addressing investors, Sitharaman highlighted India’s 7.8% growth in the first quarter of FY 2026-27. She said the performance reflected the resilience of the Indian economy despite challenging global conditions.
Sitharaman further said India’s strong reform orientation under the guidance of Prime Minister Narendra Modi has helped provide greater regulatory certainty.
She highlighted reforms such as the Insolvency and Bankruptcy Code. According to the minister, these reforms have contributed to ease of compliance and reduced paperwork.
The minister said the government has focused on creating capital assets and providing sustained support to industry through infrastructure development.
She particularly highlighted the aviation sector, along with efforts to create a friendly investment climate.
Other key areas include promoting artificial intelligence and data centres, supporting Global Capability Centres and ensuring credit availability to micro, small and medium enterprises.
Sitharaman also highlighted the government’s efforts to reduce non-performing assets of banks. These measures, she said, have helped create a more enabling business environment for banks and industry to grow and emerge stronger.
The minister further said India has remained committed to fiscal prudence and fiscal discipline over the past several years. She noted that this commitment continued despite challenges facing the global economy since the onset of COVID-19.
Sitharaman said India’s investment climate has improved significantly. Both the Central and state governments are showing greater keenness and competitiveness in attracting and facilitating investments, she said.
She added that these efforts form part of the broader national endeavour to achieve the vision of Viksit Bharat 2047.
Earlier, Ambassador of India to the US Vinay Mohan Kwatra welcomed the participants. He said the latest GDP figures demonstrated the resilience of the Indian economy.
Kwatra said India and the US can benefit from India’s fast-growing economic trajectory by creating stronger linkages between trade and investment between the two countries.
