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India Highlights 7.8% Growth Amid Global Geopolitical Conflicts
Finance Minister Nirmala Sitharaman said India is staying stable while several parts of the world face conflicts.
She mentioned tensions involving Russia and Ukraine, Israel and Iran, and Iran, the United States and Gulf countries.
India buys oil and farm fertilisers from some affected regions.
These tensions could make things difficult for India.
However, she said India’s economy grew by 7.8% in the first quarter of FY27.
Other countries were surprised by this growth, she said.
Sitharaman spoke about this at a graduation ceremony in Chennai.
She told students to understand the importance of India’s economic performance.
Finance Minister Nirmala Sitharaman described India as a “centre of stability” amid global tensions and economic uncertainty.
She said India’s economy grew 7.8% in the first quarter of FY27.
Sitharaman identified Russia-Ukraine, Israel-Iran and Iran-US-Gulf tensions as major ongoing conflicts or flashpoints.
She noted that India imports crude oil and agricultural fertilisers from regions affected by geopolitical tensions.
Speaking in Chennai, she said India’s growth has continued without adversely affecting its people.
- Who
- Finance Minister Nirmala Sitharaman and graduating students at Dr. M.G.R. Educational & Research Institute.
- What
- Sitharaman said India has become a centre of stability and maintained 7.8% growth amid global conflicts and economic uncertainty.
- Where
- Dr. M.G.R. Educational & Research Institute in Chennai, India.
- When
- Tuesday; the reported growth covers the first quarter of FY27.
- Why
- She said geopolitical tensions create challenges because India imports crude oil and agricultural fertilisers from affected regions, but the country has continued to grow.
Key facts
- India’s growth rate
- 7.8% in Q1FY27
- Speaker
- Finance Minister Nirmala Sitharaman
- Event
- Convocation ceremony
- Location
- Dr. M.G.R. Educational & Research Institute, Chennai
- Conflicts cited
- Russia-Ukraine, Israel-Iran, and tensions involving Iran, the United States and Gulf countries
- Affected imports
- Crude oil and agricultural fertilisers
- Recent visit mentioned
- Sitharaman said she discussed India’s growth during a visit to North America two weeks earlier
Quotes
Nirmala Sitharaman
India’s Finance Minister
“You may have read in history books about the global uncertainty that prevailed during the First and Second World Wars. Currently, three major conflicts and tensions are underway: Russia-Ukraine, Israel-Iran and tensions involving Iran, the US and the Gulf countries.”
financialexpress.com
“Graduating students should bear this in mind. While various nations face diverse challenges, we have ensured that the impact does not adversely affect our people, all while simultaneously driving growth, and the 7.8% growth rate is the result of these efforts.”
financialexpress.com
Sources
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