Finance Minister pitches India's reform-led growth story to US Investors

New Delhi: India continues to be the fastest-growing major economy in the world, recording growth of 7.8% in the first quarter of FY27 despite global disruptions, finance minister Nirmala Sitharaman said at a high-level business roundtable in New York, where she pitched India's reform-led growth story to investors.

At the roundtable, organised by the Consulate General of India in association with Bank of America, she said the government had focused on areas such as creating capital assets, promoting the development of AI and data centres, ensuring credit availability to MSMEs and reducing non-performing assets of banks.

Read more: Finance Ministry asks state-owned general insurers to focus on profitable lines of business


Providing sustained support to industry through infrastructure development, particularly aviation, fostering a friendly and conducive investment climate and supporting global capability centres are other measures that have helped create a more enabling business environment for banks and industry to thrive, grow and emerge stronger.

"FM Smt. @nsitharaman further said that India has consistently remained committed to the path of fiscal prudence and fiscal discipline over the past several years, despite the continuing challenges confronting the global economy since the onset of COVID-19," the finance ministry said in a social media post.

Read more: FM Sitharaman invites Scott Bessent to New Delhi, commits to deepen India-US ties on critical minerals

She said India had 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 ministry said.

The minister said the investment climate in India has improved significantly, with both the central and state governments showing greater keenness and competitiveness in attracting and facilitating investments in their respective regions.

Such efforts, she said, are part of the larger national endeavour towards achieving the vision of Viksit Bharat 2047.