India Projected as Fastest-Growing Major Economy Despite Global Uncertainty

India’s Economy Remains Resilient Despite Middle East Conflict, Says Piyush Goyal​

Strong Economic Fundamentals Help India Navigate Global Uncertainty​

New Delhi, March 14: Union Commerce and Industry Minister Piyush Goyal said on Saturday that India’s economy remains resilient despite the ongoing conflict in the Middle East, although the situation may cause a short term impact on economic activity.

Speaking at a media event in New Delhi, Goyal emphasized that India’s strong economic fundamentals will help the country manage the current phase of global uncertainty.

“India is a resilient country with strong fundamentals. While we have a war going on, Indians understand the challenges and are willing to work with the government,” Goyal said.

Short Term Slowdown Possible but Recovery Expected​

The minister acknowledged that the ongoing geopolitical tensions may result in a temporary slowdown in economic activity. However, he expressed confidence that the country will recover the lost momentum in the coming months.

“There will be a shortfall in economic activity in the short run, but we will make up for it in the coming months,” Goyal stated.

India’s Growth Outlook Remains Strong​

Despite global geopolitical challenges, India’s growth outlook continues to remain robust. The Indian economy is projected to grow at more than 7 percent in the next financial year, following an estimated expansion of 7.6 percent in the current year.

The International Monetary Fund (IMF) also highlighted strong economic performance. According to the IMF, India recorded GDP growth of 6.5 percent in FY24-25 and expanded by 7.8 percent in the first quarter of FY2025-26.

India Remains the Fastest Growing Major Economy​

At a time when several major economies are slowing and revising their growth forecasts downward amid policy uncertainties, India continues to maintain strong momentum.

The IMF has positioned India as the fastest growing major economy globally, ahead of China, whose growth is projected at 4.8 percent.

The multilateral agency has also projected India’s real GDP growth at 6.6 percent for the full year, even under the assumption of prolonged tariff measures by the United States.

Earlier this month, the IMF said India is expected to contribute around 17 percent to global real GDP growth in 2026, reflecting its continued position as the world’s fastest growing major economy.