Union Minister for Finance and Corporate Affairs Nirmala Sitharaman presented India’s reform-driven economic growth trajectory to investors during a high-level business roundtable in New York, spotlighting the country’s 7.8 per cent economic growth rate in the first quarter of 2026-27 alongside an enhanced investment climate. The event, announced on September 3, was organized by the Consulate General of India in partnership with the Bank of America. Addressing the gathering, Sitharaman emphasized that India maintains its status as the fastest-growing major economy globally despite ongoing international disruptions.
Indian Ambassador to the US Vinay Kwatra delivered the welcome address, noting that the 7.8 per cent first-quarter growth demonstrates the economy’s resilience. He suggested that both India and the US stand to gain from this accelerated trajectory by deepening bilateral trade and investment connections. Furthermore, Sitharaman pointed out that the overall investment climate has undergone substantial improvements as both central and state administrations display heightened competitiveness in drawing investments, aligning with India’s broader path toward the vision of Viksit Bharat 2047.
Key Reforms and Strategic Sector Focus:
Under the guidance of Prime Minister Narendra Modi, Sitharaman underscored critical regulatory reforms like the Insolvency and Bankruptcy Code, which have delivered greater regulatory certainty, simplified compliance, and minimized paperwork. Government initiatives have heavily prioritized building capital assets, assisting industries via infrastructure development particularly in the aviation sector and facilitating smooth investments.
Additional priority sectors outlined by the Finance Minister include:
Advanced Tech & Infrastructure: Promoting artificial intelligence, data centers, and supporting global capability centers.
Financial & Enterprise Support: Ensuring credit availability for micro, small, and medium enterprises while lowering banks’ non-performing assets.
Fiscal Management: Reaffirming India’s dedication to fiscal prudence and discipline despite ongoing economic challenges stemming from the COVID-19 pandemic.
According to the Finance Minister, these coordinated interventions have fostered a more supportive business environment enabling both banks and industrial sectors to expand and strengthen.
