03 September,2026 11:39 AM IST | New York | mid-day online correspondent
Union Finance Minister Nirmala Sitharaman. File Picture.
Union Finance Minister Nirmala Sitharaman on Wednesday termed India's 7.8 per cent GDP growth in the June quarter as "remarkable" and has said the country remains the fastest growing major economy in the world despite global uncertainties, according to news agency PTI.
Addressing investors in New York, she said that "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," the Finance Ministry said in a post on X.
India posted a better than expected GDP growth of 7.8 per cent amid West Asia crisis, trade uncertainties and El Nino impact, beating Reserve Bank of India's estimate of 7 per cent.
Sitharaman during her six-day visit to US from August 29 to September 2, 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 on Wednesday.
The Minister pitched for India's reform led growth to woo investors, highlighting this GDP growth.
The finance minister 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," the Finance Ministry said.
She outlined the key areas on which the government has focused. These include 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.
Sitharaman pointed out that these measures have helped to create a conducive business environment for banks and industry to thrive, grow and emerge stronger.
On fiscal prudence and fiscal discipline, the finance minister said that India has consistently remained committed to it over the past several years, despite the ongoing challenges confronting the global economy since the onset of COVID-19.
Sitharaman highlighted that 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 adding that these efforts are part of achieving the Viksit Bharat 2047 goal.
India's Ambassador to the United States Vinay Kwatra said both India and the US can benefit from India's fast-growing economic trajectory by creating stronger linkages between trade and investment between the two countries, according to the Finance Ministry's post.
(With inputs from PTI)
