Union Finance and Corporate Affairs Minister Nirmala Sitharaman on Wednesday highlighted India’s resilient economic performance amid global disruptions, saying the country recorded a remarkable 7.8 per cent growth in the first quarter of FY 2026-27 and continued to be the fastest-growing major economy.
FM Sitharaman made the remarks while addressing a high-level Business Roundtable with investors organised by the Consulate General of India in New York in association with Bank of America.
The Finance Minister said India’s strong reform orientation under the leadership of Prime Minister Narendra Modi had helped provide greater regulatory certainty and improve the ease of doing business.
She cited reforms such as the Insolvency and Bankruptcy Code, which she said had contributed to easing compliance requirements and reducing paperwork, a key focus of the government over the past decade.
FM Sitharaman highlighted several areas where the government has focused on strengthening the investment and business environment, including creation of capital assets, infrastructure development, particularly in aviation, and measures to support industry.
She also pointed to efforts to promote a conducive investment climate, develop artificial intelligence and data centres, support Global Capability Centres, ensure credit availability for micro, small and medium enterprises (MSMEs) and reduce non-performing assets (NPAs) in the banking sector.
These measures, she said, had created a more enabling environment for banks and industry to grow and emerge stronger.
The Finance Minister further emphasised that India had remained committed to fiscal prudence and discipline despite continuing challenges facing the global economy since the onset of the COVID-19 pandemic.
She said the investment climate in India had improved significantly, with both the Central and state governments showing greater keenness and competitiveness in attracting and facilitating investments.
FM Sitharaman said these efforts were part of the broader national endeavour to achieve the vision of Viksit Bharat 2047.
Earlier, India’s Ambassador to the United States Vinay Mohan Kwatra, in his welcome address, said the latest first-quarter GDP figures reflected the resilience of the Indian economy.
Kwatra said India and the US could benefit from India’s fast-growing economic trajectory by strengthening trade and investment linkages between the two countries.
