New Delhi, September 3: Union Finance Minister Nirmala Sitharaman highlighted India’s reform-based growth during a high-level business roundtable in New York. She emphasized the country’s 7.8% economic growth in the first quarter of 2026-27 and the improved investment climate.
The Finance Ministry shared this information on Thursday via ‘X’. Addressing the roundtable organized by the Indian Consulate in collaboration with Bank of America, Sitharaman stated that despite global disruptions and challenges, India remains the fastest-growing major economy in the world.
She mentioned several reforms, including the Insolvency and Bankruptcy Code (IBC), which have provided greater regulatory certainty, simplified compliance, and reduced paperwork under Prime Minister Narendra Modi’s guidance.
The Finance Minister noted that the government is focusing on building capital assets and developing infrastructure, particularly in the aviation sector, while also creating a conducive investment environment.
Other focus areas include promoting artificial intelligence and data centers, supporting global capability centers, ensuring credit availability for micro, small, and medium enterprises (MSMEs), and reducing non-performing assets in banks.
According to Sitharaman, these measures have contributed to creating a more favorable business environment for the growth and resilience of banks and industries.
She reiterated India’s commitment to fiscal prudence and discipline despite ongoing challenges in the global economy since the onset of the COVID-19 pandemic.
Sitharaman stated that the investment climate has significantly improved, with both central and state governments showing increased eagerness and competition to attract and facilitate investments. These efforts are part of India’s broader aim to achieve the vision of a developed India by 2047.
Meanwhile, Indian Ambassador to the U.S., Vinay Kwatra, in his welcome speech, remarked that India’s 7.8% growth in the first quarter reflects the resilience of the Indian economy. He noted that both India and the U.S. can benefit from strengthening trade and investment relations, leveraging India’s rapidly growing economic momentum.
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