Business
Sitharaman cites 7.8% Q1 GDP growth at conclave
The Hindu BusinessLine··3 Oct
Finance Minister Nirmala Sitharaman said India's economic fundamentals remained intact despite global turbulence, speaking at the Kautilya Economic Conclave. She cited 7.8 percent real GDP growth in Q1 FY27, CPI inflation of 4.82 percent in August 2026, and foreign exchange reserves of about $766 billion. She outlined a four-point resilience strategy covering minerals, openness, skills and private investment.
Prism
What It Means For You
- Households tracking prices can note the CPI figure of 4.82 percent she cited for August 2026.
- Exporters and importers can weigh her call to keep global partnerships open and predictable.
- Firms in critical minerals, rare earths and semiconductors were named in her strategic autonomy list.
What's Happening
- She defined resilience as absorbing a shock without losing the growth path or policy space for the next shock.
- She also cited a current account deficit of 0.5 percent of GDP in Q1 alongside the growth and inflation figures.
- On R&D she repeated that India spends 0.83 percent of GDP versus 2.7 percent for the OECD, with private share at 36 percent.
The Four-Point Strategy
- Point one stressed structural autonomy via the National Critical Mineral Mission, Rare Earth Corridors and India Semiconductor Mission 2.0.
- Point three focused on skilling for AI-driven workplace change for new and existing workers.
- Point four backed private-led investment, including the Rs 1 lakh crore Research, Development and Innovation Scheme.
all-news
