New York, September 3: Indian Finance Minister Nirmala Sitharaman addressed investors at a high-level business roundtable in New York, emphasizing India’s reform-driven growth. She highlighted a remarkable 7.8% economic growth in the first quarter of 2026-27 and an improved investment climate.
The Finance Ministry shared this information on Thursday. Speaking at the roundtable organized by the Indian Consulate in collaboration with Bank of America, Sitharaman noted that despite global disruptions and challenges, India remains the fastest-growing major economy in the world.
She referenced several reforms, including the Insolvency and Bankruptcy Code (IBC), stating that these measures have provided greater regulatory certainty, simplified compliance, and reduced paperwork under Prime Minister Narendra Modi’s guidance.
The Finance Minister pointed out that the government is focused on supporting the creation of capital assets and infrastructure development, particularly in the aviation sector, while also fostering a conducive investment environment.
Other key areas of focus 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 initiatives have helped create 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 noted that the investment climate has significantly improved, with both central and state governments showing greater eagerness and competition to attract and facilitate investments. These efforts are part of India’s broader mission to achieve the Vision of Developed India by 2047.
Meanwhile, in his welcoming speech, Indian Ambassador to the U.S., Vinay Kwatra, stated that the 7.8% growth in India’s first quarter reflects the resilience of the Indian economy. He emphasized that both India and the U.S. can benefit from strengthening trade and investment relations to leverage India’s rapidly growing economic momentum.
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