New Delhi
Finance Minister Nirmala Sitharaman said India remains on a strong growth trajectory despite global economic uncertainty, pointing to 7.8 per cent GDP growth in the first quarter of FY27 as evidence of the economy’s resilience.
Sitharaman said the performance reflected Indian citizens’ hard work and highlighted broad-based expansion across key sectors. Manufacturing grew 9.2 per cent, while financial and professional services expanded 12.1 per cent, she said. India’s foreign exchange reserves stood at around $700 billion.
Sitharaman said government reforms, supported by states, have helped the economy withstand external pressures. She pointed to efforts to reduce compliance burdens, simplify regulations and remove outdated laws. According to her, more than 1,000 laws have been removed and around 40,000 regulations simplified.
The Finance-Minister said sustained engagement with industry, businesses and trade has also supported the investment climate. The government is advancing bilateral trade agreements and pushing investor protection agreements to strengthen India’s position amid global uncertainty.
She expressed confidence that the momentum seen in the first quarter could continue through the remaining quarters of the financial year. Sitharaman said the strong opening quarter would support annual growth.
She also criticised Opposition leader Rahul Gandhi for describing the Indian economy as a “dead economy”, arguing that such remarks undermine citizens whose efforts are driving growth. While acknowledging that a strong Opposition is essential in a democracy, she urged political leaders to recognise the contribution of Indians driving economic progress in India and the broader goal of Viksit Bharat 2047.
