Sitharaman Highlights India’s 7.8% Q1 Growth at New York Investor Meet
Finance Minister points to economic resilience, policy reforms and expanding investment opportunities while outlining India’s growth priorities to global investors.
NEW DELHI, Sep 3: Finance Minister Nirmala Sitharaman has highlighted India’s 7.8 per cent economic growth in the first quarter of fiscal 2026-27, describing the performance as a sign of the country’s resilience despite continuing global uncertainties.
Sitharaman made the remarks while addressing a high-level business roundtable with investors in New York on Wednesday. The event was organised by the Consulate General of India in New York in association with Bank of America, New York.
According to the Finance Ministry, Sitharaman said India had retained its position as the world’s fastest-growing major economy, even amid global disruptions.
The Finance Minister, who reached New York after attending the G20 Finance Ministers’ meeting in Asheville, North Carolina, outlined several policy measures aimed at strengthening the domestic business and investment environment.
Reforms aimed at improving business climate
Sitharaman said India’s strong reform agenda has helped provide greater regulatory certainty for businesses. She cited the Insolvency and Bankruptcy Code among measures that have contributed to improving the regulatory framework.
She also highlighted government efforts to simplify compliance requirements and reduce paperwork, describing ease of compliance as a continuing priority over the past decade.
The Finance Minister said the government has focused on creating capital assets and strengthening infrastructure while maintaining support for industry. Aviation infrastructure, in particular, was identified as an important area of continued development.
Other priorities highlighted during the interaction included building a favourable investment ecosystem, promoting artificial intelligence and data centres, supporting global capability centres and ensuring adequate credit access for micro, small and medium enterprises.
Sitharaman also pointed to the reduction of non-performing assets in the banking sector as an important factor in creating a stronger environment for financial institutions and businesses.
Fiscal discipline remains a priority
The Finance Minister said India has maintained its commitment to fiscal prudence and discipline despite the economic challenges that have affected countries worldwide since the COVID-19 pandemic.
She also noted that India’s investment environment has improved considerably, with both the Centre and state governments becoming more proactive and competitive in attracting investments and facilitating business activity.
According to Sitharaman, these efforts form part of India’s broader strategy to achieve the Viksit Bharat 2047 vision.
India-US economic ties
Indian Ambassador to the United States Vinay Kwatra, in his welcome remarks, said the latest GDP figures demonstrated the resilience of the Indian economy.
Kwatra said India and the United States could benefit from the country’s rapid economic expansion by establishing stronger connections between trade and investment.
The investor interaction in New York provided an opportunity for India to showcase its growth prospects, reform initiatives and investment priorities to the international business community.
