India's economic growth boosts global confidence, says MoSPI Secretary

During the 5th Kautilya Economic Conclave in New Delhi on October 4, 2026, Saurabh Garg, Secretary in the Ministry of Statistics and Programme Implementation (MoSPI), highlighted that India's consistent economic growth is fostering global confidence. He stated that the Indian economy has demonstrated substantial resilience, achieving over 7% growth for the third consecutive year. Garg's remarks were shared with the media on the sidelines of the conclave, which focused on the theme "Resilience in an Age of Flux," running from October 3 to 5, 2026. [1]

Garg attributed this surging confidence to the recent macroeconomic performance, particularly a remarkable 7.8% growth in the first quarter of FY2026-27. He noted the ongoing strength of corporate activity and investment, suggesting a clear momentum across key sectors like manufacturing and services. Furthermore, the Secretary pointed out that international ratings agencies such as S&P Global Ratings and Fitch Ratings have revised their forecasts upward, reflecting this economic resilience. [2]

The conclave featured an inaugural address by the Vice-President on October 3, adding credibility to Garg's comments made a day later. The event served as a significant platform for discussing India's economic trajectory amidst global uncertainties. The Press Information Bureau confirmed the timing and theme of the event, reinforcing the context for Garg's insights. [3]

While Garg's comments were primarily descriptive rather than policy directives, they underscore an important narrative: India’s current economic conditions are robust enough to influence international market perceptions positively. He did, however, temper this optimism with caution, indicating that ongoing tensions in West Asia and the potential for crude oil price shocks pose risks to this growth trajectory. Garg acknowledged that both government initiatives and adjustments within the private sector have been instrumental in cushioning the economy against such shocks. [2]

In summary, Saurabh Garg's remarks at the Kautilya Economic Conclave emphasize the strong growth momentum of the Indian economy and its favorable implications for global confidence, while also highlighting risks that could affect the economic landscape moving forward. His comments are backed by recent indicators of economic performance and revisions by international rating agencies, making them a noteworthy contribution to the dialogue surrounding India's economic future. [1]

Sources

• [1] Business News: Economy & Markets | IANS Live
• [2] Financial Sector Restoration Has Been Key to India’s Economic Resilience: Shaktikanta Das | Akashvani News
• [3] Press Release Page | Press Information Bureau

Researched and edited with AI assistance.

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