India’s 7.8% growth despite global disruptions remarkable: FM Sitharaman at US investors’ meet
By R Anil Kumar
New York/ Bengaluru, September 2, 2026. India’s 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.
India retains status as fastest-growing large economy with latest GDP growth of 7.8%: Kwatra
India’s 7.8 per cent GDP growth in the first quarter of 2026-27 fiscal year continues the country’s trajectory as the fastest-growing large economy in the world, Indian Ambassador to the US, Vinay Kwatra, said as he rang the opening bell at Nasdaq.
“India is undergoing a significant economic and technological transformation, driven by strong entrepreneurial ecosystem, expanding digital capabilities and a young and talented workforce,” Kwatra said Wednesday morning at the Nasdaq stock exchange in the heart of Times Square.
Kwatra pointed to India’s latest GDP growth for the April–June quarter and said the country remains “the fastest-growing large economy” in the world.
“In that, one of the greatest pillar of our current and the emerging partnership is the partnership with the companies in the community of the technology leadership companies in Nasdaq for technology, technology-linked capital, technology infrastructure, and of course, mobility of skilled professional,” he said.
As India moves forward to the goal of ‘Viksit Bharat 2047’, Kwatra said the country looks forward “to an even stronger partnership with American businesses, investors and institutions.”
Kwatra rang the Nasdaq opening bell on behalf of the government and people of India and Finance Minister Nirmala Sitharaman, who later in the day arrived in New York after participating in the G20 finance ministerial meeting in Asheville, North Carolina.
Kwatra described the opening bell ceremony at the stock exchange as being more than a market tradition. “It represents confidence in enterprise, innovation and the possibility of future partnership between India and the companies of the Nasdaq. This spirit resonates very strongly with India,” he said.
In a post on X, Kwatra said it was a pleasure to ring the opening bell at Nasdaq to “mark the growing strength and promise of the India-USA partnership. India is undergoing a significant economic and technological transformation, driven by a strong entrepreneurial spirit. The companies listed here are one of the great pillars of that partnership.”
On the occasion, Kwatra was joined by Acting Consul General of India in New York Vishal Harsh and other officials.
