FM Sitharaman pitches for India's reform-led growth story to investors in New York

New York, Sep 3
Union Minister for Finance & Corporate Affairs Nirmala Sitharaman has pitched for India's reform-led growth story to investors at a high-level business roundtable here, highlighting the country's 7.8 per cent economic growth in the first quarter of 2026-27 and improved investment climate, it was announced on Thursday.

Addressing the roundtable organised by the Consulate General of India in association with Bank of America, FM Sitharaman said India continues to be the world's fastest-growing major economy despite global disruptions and challenges, the Ministry of Finance said on X.

Moreover, she highlighted a range of reforms, including the Insolvency and Bankruptcy Code, saying these measures have provided greater regulatory certainty, eased compliance and reduced paperwork under the guidance of Prime Minister Narendra Modi.

FM Sitharaman said the government has focused on creating capital assets and supporting industry through infrastructure development, particularly in aviation, while also fostering a conducive investment climate, the ministry said.

Other focus areas include promoting artificial intelligence and data centres, supporting global capability centres, ensuring credit availability to micro, small and medium enterprises and reducing non-performing assets of banks, she said.

These measures have helped create a more enabling business environment for banks and industry to grow and emerge stronger, according to the Finance Minister.

FM Sitharaman also reiterated India's commitment 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 had improved significantly, with both the central and state governments showing greater keenness and competitiveness in attracting and facilitating investments.

Such efforts are part of India's broader endeavour to achieve the vision of Viksit Bharat 2047, according to her.

Meanwhile, in his welcome address, Indian Ambassador to the US Vinay Kwatra said India's 7.8 per cent first-quarter growth reflected the resilience of the Indian economy. He said India and the US could benefit from India's fast-growing economic trajectory by strengthening trade and investment linkages between the two countries.