India's 7.8% Q1 GDP Growth Is An Evidence Of Economic Resilience: FM

New Delhi: Union finance minister Nirmala Sitharaman on Thursday said that India has delivered a strong growth signal amid a turbulent global economy and a 7.8 percent expansion in the first quarter of FY 2026-27 is the evidence of the country's economic resilience. 'India continues to be the fastest-growing major economy in the world, despite global disruptions and persistent uncertainty,” she said while addressing investors in New York.

Before the address, she participated in a high-level business roundtable with investors, organised by the Consulate General of India in New York in association with Bank of America, New York. “Despite global disruptions and against all odds, India continues to be the fastest-growing major economy in the world, recording a remarkable growth of 7.8 per cent in Q1 of FY 2026-27,” she said in a post on X.

Sitharaman arrived here after participating in the G20 finance ministerial meeting in Asheville, North Carolina. Sitharaman further hailed the government’s strong reform orientation, saying that India has also provided greater regulatory certainty through a range of reforms, including the insolvency and bankruptcy code. “Such reforms have contributed to ensuring ease of compliance and reducing paperwork, which has remained a prime focus of the Government of India since it assumed office over a decade ago,” she said.

The finance minister also said that among the key areas on which the government has focused are creation of capital assets and providing sustained support to industry through infrastructure development, particularly aviation; fostering a friendly and conducive investment climate; promoting the development of AI and data centres; supporting global capability centres; ensuring credit availability to MSMEs; and reducing non-performing assets (NPAs) of banks.

“These measures have helped create a more enabling business environment for banks and industry to thrive, grow and emerge stronger. India has consistently remained committed to the path of fiscal prudence and fiscal discipline over the past several years, despite the ongoing challenges confronting the global economy since the onset of Covid-19,” she added.

The minister also highlighted the investment climate in India that has improved significantly, with both the central government and state governments demonstrating greater keenness and competitiveness in attracting and facilitating investments in their respective regions. “Such efforts are part of the larger national endeavour towards achieving the vision of Viksit Bharat 2047,” she said.