India Emerges As Key Engine Of Global Growth: FM Sitharaman

(MENAFN- IANS) New Delhi, Feb 2 (IANS) Union Finance Minister Nirmala Sitharaman has said India has emerged as one of the biggest drivers of global economic growth, highlighting an International Monetary Fund (IMF) chart shared by billionaire entrepreneur Elon Musk that shows India and China together contributing 43 per cent of worldwide GDP growth.

Speaking to university students in Parliament after presenting the Union Budget 2026–27, Sitharaman referred to a social media post reposted by Musk, which was based on IMF projections.

The chart showed that China contributes 26 per cent and India 17 per cent to global GDP growth, putting the two Asian economies ahead of the United States in driving global expansion.

Addressing the students, the finance minister said many young people actively follow social media and may have seen the post.

FM Sitharaman explained that Musk had reacted to the IMF data with surprise, noting how the balance of global economic power is shifting.

Finance Minister Sitharaman said the figures clearly show India's rising strength in the global economy.

FM Sitharaman added that India's Opposition should also recognise the country's growing economic influence.

While acknowledging that China's contribution is currently higher, FM Sitharaman said India is steadily closing the gap and expressed confidence in the country's long-term growth path.

“India should take pride in the fact that it now plays such a significant role in global GDP growth alongside its neighbour,” FM Sitharaman said.

The finance minister stressed that Indians should have confidence in their economy, pointing out that India is now central to global economic expansion.

FM Sitharaman said the country is living through a phase where its growth story is being noticed and discussed worldwide.

Elon Musk had shared the chart, originally posted by World of Statistics, with a comment saying that the global balance of power is changing, drawing wide attention to the IMF data.

MENAFN02022026000231011071ID1110681702