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

Finance Minister Nirmala Sitharaman presented India's growth story to US investors at a high-level business roundtable in New York on Tuesday. Despite global disruptions, India continues to be the world's fastest-growing major economy, with a growth rate of 7.8% in the first quarter of FY27, Sitharaman told the gathering.

The government has been focusing on creating capital assets, promoting AI and data centres, ensuring credit availability for MSMEs, and reducing banks' non-performing assets, she said. Sitharaman emphasized the importance of sustained support to industry through infrastructure development, particularly aviation, and fostering a conducive investment climate.

In addition, she highlighted India's commitment to fiscal prudence and discipline, despite global economic challenges since the onset of COVID-19. The Insolvency and Bankruptcy Code has provided greater regulatory certainty, reducing paperwork and ensuring ease of compliance, according to the finance ministry.

Sitharaman also noted the improved investment climate in India, with both central and state governments showing greater enthusiasm in attracting investments. These efforts are part of the larger national goal of achieving the vision of Viksit Bharat 2047.